Hong Kong, China
Market Watch
| Close of December 8, 2023 |
Change From | |||
|---|---|---|---|---|
| Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
| 2 Year | 3.787 | ▼ 2.7 | ▼ 12.7 | ▼ 39.4 |
| 10 Year | 3.562 | ▼ 3.4 | ▼ 20.5 | ▼ 8.3 |
|
* 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 | ▼ 0.1 |
| HKD per JPY | 0.054 | ▲ 0.6 | ▼ 1.2 | ▲ 9.5 |
|
* Exchange rate changes are expressed as a percentage change. |
||||
| Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
| 1D HIBOR | 4.361 | ▼ 22.4 | ▲ 30.9 | ▲ 112.7 |
|
* Interest rate changes are expressed in basis point change. |
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Policy Rates
| Change From | ||||
|---|---|---|---|---|
| Policy Rates | Latest Rate (1-Jan-1970) |
Previous Rate (1-Jan-1970) |
YTD Rate |
|
| No data available for this market | ||||
Sovereign Ratings
| Agency | Rating | Outlook | Date | |
|---|---|---|---|---|
| Regional Rating Institutions | ||||
| R&I | AA+ | stable | 2023-04-03 | |
| Non-Regional Rating Institutions | ||||
| Fitch | AA- | stable | 2023-03-30 | |
| S&P | AA+ | stable | 2023-05-25 | |
NEWS HIGHLIGHTS
- Interest rate of the fifth interest payment for iBond Series due 2024
- Construction output for third quarter of 2023
- Interest rate of the sixth interest payment for Silver Bond Series due 2023
- Economists See Hong Kong’s Growth Outlook Worsening Through 2024
- HKMA portfolio to be net-zero by 2050
Read full index for News and Commentary
BOND ISSUANCES
- Exchange Fund Bills Tender Results for 5 December 2023
- Tender results of the re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme
- Exchange Fund Bills Tender Results for 28 November 2023
- Exchange Fund Notes Tender Results for 21 November 2023
- Exchange Fund Bills Tender Results for 21 November 2023
- Size of LCY Bond Market
- Size of LCY Bond Market in % of GDP
- Monthly Bonds Outstanding in USD
- FCY Bonds Outstanding
- Breakdown of LCY Bond Market Issuance
- G3 Currency Bond Issuance
- Government Securities Maturity Profile - LCY
- Government Securities Issuance Maturity Profile - LCY
- Corporate Securities Maturity Profile - LCY
- Trading Volume
- Bonds Turnover Ratio
- Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
- Yield Volatility - 10yr LCY Bonds
- Bid-Ask Spreads (Survey data)
- Government Bond Market Structural Issues
- Corporate Bond Market Structural Issues
- Green Bonds Issuance
- Green Bonds Outstanding
- Social Bonds Issuance
- Social Bonds Outstanding
- Sustainability Bonds Issuance
- Sustainability Bonds Outstanding
- Sustainability-linked Bonds Issuance
- Sustainability-linked Bonds Outstanding
- Transition Bonds Issuance
- Transition Bonds Outstanding
- Consolidated Sustainable Bonds Issuance
- Consolidated Sustainable Bonds Outstanding
ASEAN+3 the Bond Market in Hong Kong, China: An ASEAN+3 Bond Market Guide Update
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 2016:
Hong Kong, China
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.
Download Report
ASEAN+3 Multi-Currency Bond Issuance Framework
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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Market Summary
Yield Movements
Between 1 September and 10 November, local currency (LCY) government bond yields in Hong Kong, China rose across all tenors, with more pronounced increases for short-term bonds. The rise in yields was primarily driven by expectations that the United States Federal Reserve will maintain higher interest rates longer than previously expected as well as growing uncertainty stemming from the impacts on the domestic economy of a global economic slowdown and geopolitical tensions.
Local Currency Bond Market Size and Issuance
LCY bonds outstanding in Hong Kong, China expanded to HKD3.0 trillion at the end of September, posting 5.1% quarter-on-quarter growth in the third quarter of 2023. Growth in the LCY bond market was driven by increased issuance of government and corporate bonds. Total LCY bond issuance registered HKD1.3 trillion in the third quarter of 2023, up 7.8% from the previous quarter. Corporate debt sales recovered, rising 22.9% quarter-on-quarter while Hong Kong Special Administrative Region government bond issuance jumped more than sixfold due to an issuance of Silver Bonds.
Policy and Regulatory Developments
On 16 October, the Hong Kong Monetary Authority announced the tentative issuance schedule for Hong Kong Special Administrative Region government bonds for the 6-month period between October 2023 and March 2024. The schedule listed seven issuances of bonds with tenors ranging from 1 year to 20 years, and a total issuance size of HKD14 billion. The monetary authority noted that the schedule and issuance details may be adjusted based on market conditions.