January 17, 2019
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||1.696||▼ 0.1||▲ 3.4||▼ 5.3|
|5 Year||1.892||▼ 1.6||▲ 1.2||▼ 37.2|
|10 Year||2.046||▲ 0.3||▼ 0.2||▲ 3.9|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|HKD per USD||7.843||▲ 0.0||▼ 0.1||▼ 0.1|
|HKD per JPY||0.072||▲ 0.2||▲ 0.7||▼ 0.5|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D HIBOR||0.303||▼ 2.9||▲ 6.6||▼ 430.1|
|3M HIBOR||1.831||▲ 0.5||▼ 3.3||▼ 49.6|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|Discount Window Base Rate||2.500||▲ 25.0||▲ 75.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
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 previous issues PDF|
Between 31 August and 15 October, Hong Kong, China’s local currency (LCY) government bond yield curve shifted upward as yields rose for all tenors. Excluding the 1-month tenor, yields for shorter-dated bonds (2 years or less) rose an average of 16 basis points (bps), while excluding the 3-year tenor, yields for longer-dated bonds (5 years or more) rose an average of 33 bps. The movements in Hong Kong, China’s bond yields closely track the movements of United States (US) Treasury yields as the Hong Kong dollar is pegged to the US dollar.
Hong Kong, China’s LCY bond market continued to expand through the third quarter of 2018 to reach a size of HKD1,955 billion (USD250 billion) at the end of September. Growth moderated to 1.4% quarter-on-quarter (q-o-q) from 2.1% q-o-q in the second quarter. Growth was driven by the rise in stock of corporate bonds. Year-on-year (y-o-y) growth was 3.6%, maintaining the previous quarter’s y-o-y growth and driven by expansion in both the government and corporate bond segments.
In August, delivery-versus-payment settlement was fully implemented under the Bond Connect program. This mechanism allows for the payment and delivery of securities in real time, reduces settlement risks, and facilitates settlement efficiency, providing more convenience to international investors through Bond Connect.
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