barely gained on Wednesday, suggesting markets remain fragile
despite an early boost after China said mainland investors would
equity sales director of UOB Kay Hian in Hong Kong, adding that
Illustrating his point, CLP Holdings Ltd rose 2.4
Investors have flocked to utility stocks as stable cash
Chinese brokerages, licensed to trade in mainland and Hong
Kong markets, were among the top percentage gainers after
Vice-Premier Li Keqiang announced in Hong Kong that foreign
investors would be allowed to buy mainland securities using
yuan, in addition to current dollar-denominated
People's Bank of China Governor Zhou Xiaochuan, also in Hong
ETFs based on Hong Kong-listed stocks , raising
Investments Ltd jumped 22.2 percent in about 49 times
The Shanghai Composite Index closed down 0.3 percent
central bank's one-year bill yield rose unexpectedly at auction
interest rates or bank reserve requirements.
Gold Mining down 1.5 percent.
stronger yuan in its global transactions, limited the losses
after the People's Bank of China fixed the yuan mid-point at
Chinese currency.
China Eastern Airlines jumped 2.3 percent, while
Hainan Airline gained 0.8 percent. 4.5 percent, and Fujian Qingshan Paper Industry rose
1.9 percent.
Daniel Hui, a senior currency strategist at HSBC Holdings Plc in Hong Kong, talks about dim sum bonds.
(Source: Bloomberg)
China sold 15 billion yuan ($2.4
billion) of bonds to institutional investors in Hong Kong at the
lowest yields since the Ministry of Finance began issuing debt
0.6 percent, lower than the 1 percent offered on the debt of the
same tenor in November 2010, Hong Kong Financial Secretary John
investors to yield about 0.7 percent to 0.9 percent, according
yuan,” said
Agricole CIB in Hong Kong.
The government’s third issue of yuan-denominated bonds in
Hong Kong, its largest to date, shows global investors are
The yuan has climbed 3.2
bonds at 1.4 percent, 3 billion yuan of seven-year bonds at 1.94
percent and 1 billion yuan of 10-year bonds at 2.36 percent,
according to a Hong Kong Monetary Authority statement on its
investors at a 1.6 percent yield, he said.
welcomed by Hong Kong investors,” Yong said. The government
will gradually expand sales of dim sum bonds in the city and
issuing yuan-denominated bonds in Hong Kong, and allow mainland
Li
The Ministry of Finance sold 6 billion yuan of dim sum
bonds in 2009 and 8 billion yuan in 2010. Excluding today’s
sale, dim sum issuance already totaled 99 billion yuan this
The currency rose 0.8
Shanghai, the biggest gain since 2007,
according to the China Foreign Exchange Trade System. The yuan
fell 0.07 percent to 6.3871 today.
Yuan deposits in Hong Kong totaled a record 554 billion
sale to institutional investors. chief executive Donald Tsang
Since 2010, when Beijing allowed Hong Kong residents to hold renminbi in their bank accounts, deposits have increased to Rmb554bn, or about a 10th of the total amount on deposit in Hong Kong.
New measures will also allow mainlanders to invest in exchange traded funds in Hong Kong shares, seen as another boost to the city’s stock exchange.