(ATF) The flagship China Bond 50 index closed slightly negative (-0.01%) on Wednesday on the back of losses in the bonds of two financial institutions. The paper of both China Development Bank and Export Import Bank of China retreated 0.18% on Wednesday, ending the day at 104.52 and 105.18, respectively.
The China Bond 50 Index closed 0.01% higher
Meanwhile, Datong Coal Mining Corporation and Xi’An Hi-Tech bonds gained 0.02%. These bonds are also constituents of the ATF ALLINDEX Enterprise gauge, which lost 0.08%.
No significant moves were seen in the constituents of the ATF sub-indices. The ATF ALLINDEX Corporates and Local Governments closed slightly positive, while the ATF ALLINDEX Financial closed slightly negative.
China is due to print its year-on-year industrial profits data for July on Thursday. While industrial profits growth might have softened, investors can take comfort from the fact that it remained positive for a third straight month, according to Prakash Sakpal, senior economist Asia at ING, in a research note. He noted that this signals firming activity and the improved prospect of investment spending.
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