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Close of June 27, 2024 |
Change From | |||
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Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 3.685 | ▲ 6.1 | ▲ 4.8 | ▲ 29.7 |
10 Year | 3.570 | ▲ 6.9 | ▲ 6.3 | ▲ 35.4 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
HKD per USD | 7.809 | ▲ 0.0 | ▼ 0.1 | ▲ 0.0 |
HKD per JPY | 0.049 | ▼ 0.0 | ▲ 1.1 | ▲ 12.3 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
1D HIBOR | 4.266 | ▼ 0.6 | ▲ 7.1 | ▼ 182.7 |
* Interest rate changes are expressed in basis point change. |
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Policy Rates | Latest Rate (1-Jan-1970) |
Previous Rate (1-Jan-1970) |
YTD Rate |
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No data available for this market |
Agency | Rating | Outlook | Date | |
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Regional Rating Institutions | ||||
R&I | AA+ | stable | 2023-04-03 | |
Non-Regional Rating Institutions | ||||
Fitch | AA- | stable | 2024-04-12 | |
S&P | AA+ | stable | 2024-05-07 | |
This report provides updates on the bond market in Hong Kong, China since the publication of the ASEAN+3 Bond Market Guide 2016: Hong Kong, China. It also highlights those changes and developments that have a connection to the bond market of the People's Republic of China. The ASEAN+3 Bond Market Guide series provides member-specific information on the investment climate, rules, laws, opportunities, and characteristics of local bond markets in Asia and the Pacific. It aims to help bond market issuers, investors, and financial intermediaries understand the local context and to encourage greater participation in the region's rapidly developing bond markets.
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ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides various information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction, and other relevant information. The Hong Kong, China Bond Market Guide is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Hong Kong, China. The report should be recognized as a collective good to support bond market development among ASEAN+3 members.
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Implementation Guidelines for Hong Kong, China
August 2015
The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) Implementation Guidelines for Hong Kong, China are provided to review the AMBIF Elements and detail the corresponding features of Hong Kong, China market in relation to each element.
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* Download previous issues PDF | ||||
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Between 1 March and 31 May, local currency (LCY) government bond yields in Hong Kong, China rose for most tenors, mainly driven by the delay in the United States Federal Reserve's expected rate cut. Maturities of up to 10 years gained an average of 27 basis points on market expectations of higher-for-longer interest rates. However, yields for tenors of 15-20 years edged down 5 basis points amid modest economic growth and easing inflation.
Hong Kong, China's LCY bonds market expanded 0.6% quarter-on-quarter (q-o-q) in the first quarter (Q1) of 2024, reaching a size of HKD3.0 trillion at the end of March. Growth in the LCY bond market was supported by a rebound in corporate bond issuance, which rose 2.9% q-o-q to HKD1.3 trillion on increased issuance by several state-owned corporations. Meanwhile, issuance of Hong Kong Special Administrative Region government bonds and Exchange Funds and Bills contracted during the quarter. Government bond issuances in Q1 2024 included HKD2.0 billion of 2-year digital green bonds.
Sustainable bonds in Hong Kong, China comprised primarily of green bonds and public sector issuances, typically with shorter maturities and denominated in foreign currency. At the end of March, the sustainable bond market reached USD43.4 billion after a nominal contraction of 0.3% q-o-q. Sustainable bond issuance in Q1 2024 contracted 62.2% q-o-q to USD1.1 billion amid elevated interest rates.