(ATF) Bank names led losses in the ATF indices on Thursday, with only the ATF ALLINDEX Local Governments gauge closing in positive territory, inching up 0.01%. The flagship China Bond 50 index, ATF ALLINDEX Enterprise and Financial lost 0.04%, 0.03% and 0.03%, respectively, while the ATF ALLINDEX Corporates dropped 0.15% on the back of a coupon payment by Beijing Enterprises Group.
Within the China Bond 50 index, losses were seen in the bonds of China Development Bank (-0.38%), Export-Import Bank of China (-0.3%), Bank of Hangzhou (-0.27%), Huishang Bank (-0.16%) and Shanghai Pudong Development Bank (-0.07%).
Shanghai Pudong Development Bank, Huishang Bank and Bank of Hangzhou paper also weighed on the ATF ALLINDEX Financial, along with China Securities and Haitong Securities, which lost 0.57% and 0.42% respectively. Only Shengjin Bank made a gain of any note, rising 0.02%.
Chongqing Yufu Assets Management sank 0.48%, and dragged down the ATF ALLINDEX Enterprise, while the bonds of Beijing Enterprises, an investment company, dropped 4.54% and dragged down the ATF ALLINDEX Corporates gauge.
Further losses were seen in the industrial sector, with Wuxi Construction Development paper losing 0.57% and, along with Beijing Enterprises, leading to the fall in the ATF ALLINDEX Corporates. China Merchants Group and China National Nuclear Corporation bonds retreated 0.1% and 0.7% and weighed on both the China Bond 50 and the ATF ALLINDEX Enterprise.
The only notable gains of the day were posted by Datong Coal Mine and Xi’An Hi-tech Holdings. Their bonds gained 0.02%, as they have done each day this week. Both names are constituents of the China Bond 50 index and the ATF ALLINDEX Enterprise.