(ATF) Losses were seen in the ATF China bonds indices on Monday, with the ATF China Bond 50 Index, the flagship gauge, and the ATF ALLINDEX Corporates dropping 0.09%. The ATF ALLINDEX Enterprise and Financial measures also retreated, by 0.15% and 0.08%, respectively. Gains were seen only in the ATF ALLINDEX Local governments, which rose 0.03%.
The ALLINDEX Corporates Index dropped 0.09%.
Within the China Bond 50 index, financial names retreated, with losses recorded in the bonds of Shanghai Pudong Development Bank (-0.13%), China Minsheng Banking (-0.11%), Bank of China (-0.05%), Bank of Beijing (-0.1%), Xiamen International Bank (-0.28%) and China Development Bank (-0.17%). Apart from China Development Bank, these names also weighed on the ATF ALLINDEX Financial.
The ALLINDEX Enterprise Index lost 0.15%.
In the industrial sector, China State Construction Engineering dropped 0.61%, while China National Nuclear Corporation lost 3.71% on the back of a July 11 coupon payment. Both names dragged down the ATF ALLINDEX Enterprise, along with State Development and Investment, which lost 3.54% – also on the back of a coupon payment on July 11 – and Nanjing State-Owned Assets Investment (-0.38%).
The ALLINDEX Financials Index declined 0.08%.
Also within the ATF ALLINDEX Financial, Guotai Junan Securities, China Great Wall Asset Management, and Shengjing Bank lost 0.29%, 0.61% and 0.03%, respectively. In addition, Everbright Financial Leasing (-0.76%) and China Securities (-2%) closed lower, while China Zheshang Bank clocked the biggest gain, at 0.11%.
The ALLINDEX Local Government Index rose 0.03%.
Finally, bonds from the industrial sector weighed on the ATF ALLINDEX Corporates, with losses seen in the bonds of Nanjing Pukou Economic Development (-0.66%), Fuyang Construction Investment (-1.03%), Qingdao Conson Development (-1.2%) and Beijing Yizhuang Investment (-0.85%). Zhejian Provincial Energy Group recorded the biggest gain at 0.07%.
No losses were observed among the ATF ALLINDEX Local Governments, in which all constituents gained between 0.02% and 0.03%.