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Hong Kong, China

Market Watch
Close of
May 29, 2020
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 0.583 0.5 ▲ 5.1 116.6
5 Year 0.590 3.0 3.7 115.0
10 Year 0.648 3.9 6.0 114.4

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
HKD per USD 7.751 ▲ 0.0 ▲ 0.1 ▲ 0.5
HKD per JPY 0.072 ▲ 0.2 ▲ 0.2 0.2

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D HIBOR 0.314 ▲ 7.3 2.8 424.9
3M HIBOR 1.247 0.1 4.2 118.1

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
Previous Rate
No data available for this market
Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I AA+ stable 2019-04-15
Non-Regional Rating Institutions
Fitch AA- stable 2020-04-20
S&P AA+ stable 2019-10-08

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  • 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
  • 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

ASEAN+3 Bond Market Guide

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.

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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 featur​es of Hong Kong, China market in relation to each element.

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* Download previous issues PDF
2020 Mar
2019 Nov Sep Jun Mar
2018 Nov Sep Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
2013 Nov Sep Jun Mar
2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary

Size and Composition

The outstanding stock of local currency bonds in Hong Kong, China amounted to HKD2,266.0 billion (USD290.8 billion) at the end of the fourth quarter (Q4) of 2019, rising 0.07% quarter-on-quarter (q-o-q) and 1.8% year-on-year. The weak q-o-q growth was largely due to a 0.9% contraction in corporate bonds, which weighed on the 1.0% growth in government bonds. Government bonds accounted for 52.2% of the local currency bond total at the end of Q4 2019.

Corporate Bond Issuance

Corporate bond sales in Hong Kong, China continued to decline in Q4 2019, falling 18.9% q-o-q after a 12.1% q-o-q drop in the third quarter of 2019. Months of prolonged political protests and the ensuing economic recession curtailed appetite for corporate borrowing during the quarter.

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