|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.37 - 11.46|
|52 Week Range||10.10 - 14.54|
|Beta (3Y Monthly)||0.92|
|PE Ratio (TTM)||5.06|
|Forward Dividend & Yield||0.67 (5.93%)|
|1y Target Est||N/A|
The rally since January has added more than $893 billion to the value of the country’s equities, lifting Shenzhen’s risky startups and state-backed giants alike. The rebound has been so quick and widespread that it’s already triggered signs of overheating in four of China’s major benchmarks. The CSI 300 Index’s 15 percent rally is its best start to any year in a decade, and turnover across all exchanges is near the highest since March.
The U.S. is asking Beijing to keep the value of the yuan stable as part of trade negotiations between the world’s two largest economies, Saleha Mohsin and Katherine Greifeld of Bloomberg News reported. Washington fears that China could weaken its currency to counteract the effect of higher American tariffs on imports from the nation. Despite the trade conflict, the People’s Bank of China has effectively pegged the yuan to the dollar, loyally following the greenback’s cycle.
Key InsightsGrowth in M2 broad money supply and aggregate financing is reasonable and the macro leverage ratio remains stable, which means China isn’t flooding the financial system with liquidity and the monetary policy stance hasn’t changed, Sun Guofeng, director of the PBOC’s monetary policy department, said at a press conference Friday.Asked if an interest-rate cut was possible, Sun said the central bank should “focus more on the changes in real interest rates,” which have declined since last year, and let policy rates be better transmitted into lending costs. While the data may relieve some concerns over a deceleration in the world’s second-largest economy, distortions caused by the Lunar New Year holiday timing make it tough to get a definitive read on the health of the broader economy.
The People’s Bank of China raised holdings to 59.94 million ounces, or about 1,864 metric tons, by the end of January from 59.56 million ounces a month earlier, according to data on the bank’s website. China, the top gold producer and consumer, is beefing up holdings amid signs of slowing growth and uncertainty about whether the trade fight with the U.S. will get resolved. Central banks worldwide added the second-highest annual total on record in 2018 as heightened geopolitical and economic uncertainty drove them to diversify reserves, according to the World Gold Council.
The People’s Bank of China may shift the interest-rate corridor down by 10 basis points in the second quarter if economic data continue to show softness, said Ng, who left the HKMA in 2015 and established investment firm Eastfort Asset Management Pte Ltd. “2019 should still be a mild bull market for China bonds, at least for the first half of the year given a dovish Fed, slowing onshore growth and more aggressive PBOC stance,” said Ng, who favors the nation’s five-year notes. Yields on China’s benchmark five- and 10-year notes have tumbled by almost 100 basis points over the past year as the U.S.-China trade war dent exports and factory output, spurring investors to seek havens.
Last week’s sudden retreat came as representatives from the world’s two biggest economies prepared to discuss the standoff, with President Donald Trump saying he wouldn’t meet his Chinese counterpart Xi Jinping before a 90-day truce ends March 1. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are leading a delegation to Beijing, and if Trump deems that negotiations are moving forward, he may be tempted to extend the deadline. “Sentiment for the rest of the month is likely to be heavily influenced by the ongoing U.S.-China trade negotiations,” said Paul Greer, a London-based money manager at Fidelity International.
“My guess is that we will buy some once we get the settlement capabilities, but it’s not a high conviction sort of view,” said Brendan Murphy, who helps manage $37 billion at Mellon, a $482 billion asset manager based in Boston. The first step would be to buy “a small amount” of government bonds as the team gauges the market’s liquidity and trading conditions, he said in an interview in Sydney. China has mounted a years-long campaign to boost foreign investment into its bond market, set to become the world’s second biggest, in part to counter downward pressures on the yuan’s exchange rate.
A $300 million loan offered by Bank of China to Sri Lanka is facing delays, government officials familiar with the negotiation told Reuters. The Indian Ocean island nation, a key battleground in the tussle for influence in South Asia between China and traditional regional power India, was due to receive the loan before the end of January, but it is now unlikely to be finalised until later this month, according to four officials. Sri Lanka is seeking the loan, which it said could be raised to $1 billion by the end of March, as it struggles to repay foreign debts after a political crisis delayed the government's borrowing plan.
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Diamonds are forever and so now, apparently, are Chinese bank bonds. Bank of China, the country’s fourth-largest bank, late last week issued a 40 billion yuan ($6 billion) perpetual bond, the first from a Chinese bank. This first issue followed some last-minute moves from Chinese regulators aimed at making buying bank perpetual bonds more attractive.
A shift was inevitable, with the stock market still flagging after sinking into a bear market last year. Yi Huiman, chairman of Industrial and Commercial Bank of China Ltd., will succeed Liu Shiyu as chairman of the China Securities Regulatory Commission, the state-run Xinhua News Agency announced Saturday, confirming an earlier report by Bloomberg News. No CSRC chairman has lasted more than three years.
Sri Lanka is considering an offer from Bank of China for a loan of $300 million (£234.7 million), which could be raised to $1 billion, to help it meet repayments in coming months, junior finance minister Eran Wickramaratne told Reuters on Tuesday. A series of credit rating downgrades amid a political crisis have made it harder for Sri Lanka to borrow as it faces record high repayments of $5.9 billion this year, $2.6 billion of which fall due in the first three months. "It's extremely difficult to tap the international market due to tight conditions and rating downgrades," said Wickramaratne, who is the state minister of finance.
Bank of China's New York branch will enable Chinese firms to receive payment in yuan rather than dollars from their sales on U.S. e-commerce platforms this year, the official Xinhua news agency reported on Sunday. Pledging to introduce more services for small and medium-sized enterprises engaged in cross-border trade between the United States and China, executives from the branch said payment in yuan would be possible by tapping new functions of e-MPay, a cross-border payment system launched by the branch in 2016. The branch is developing a system using an existing platform to "facilitate trade finance for e-commerce players," said Xu Chen, president and chief executive officer of Bank of China USA, Xinhua reported, without providing further details.
Bank of China's New York branch [BKCHNW.UL] will enable Chinese firms to receive payment in yuan rather than dollars from their sales on U.S. e-commerce platforms this year, the official Xinhua news agency reported on Sunday. Pledging to introduce more services for small and medium-sized enterprises engaged in cross-border trade between the United States and China, executives from the branch said payment in yuan would be possible by tapping new functions of e-MPay, a cross-border payment system launched by the branch in 2016. The branch is developing a system using an existing platform to "facilitate trade finance for e-commerce players," said Xu Chen, president and chief executive officer of Bank of China USA, Xinhua reported, without providing further details.
Jan 10 (Reuters) - Jilin Province Huinan Changlong Bio-pharmacy Co Ltd: * SUBSCRIBED FOR WEALTH MANAGEMENT PRODUCT FROM POSTAL SAVING BANK OF CHINA IN AMOUNT OF RMB100 MILLION Source text for Eikon: Further ...
Dec 7 (Reuters) - Argus Shanghai Textile Chemicals Co Ltd : * SAYS IT SIGNS COOPERATION FRAMEWORK AGREEMENT WITH BANK OF CHINA SHANGHAI BRANCH Source text in Chinese: https://bit.ly/2G5eRaS Further company ...
Nov 26 (Reuters) - China Molybdenum Co Ltd : * SAYS IT SIGNS FRAMEWORK AGREEMENT WITH BANK OF CHINA ON FINANCIAL SERVICE COOPERATION Source text in Chinese: https://bit.ly/2Kx7Eic Further company coverage: ...
Moody's Investors Service has upgraded the insurance financial strength rating (IFSR) of BOC Group Life Assurance Co. Ltd (BOC Life) to A1 from A2. BOC Life is 51% owned by BOC Hong Kong (Holdings) Limited and 49% owned by Bank of China Group Insurance Company Limited, which are both ultimately owned by Bank of China Limited (BOC, deposits A1 stable, BCA baa1).
Nov 21 (Reuters) - Bank Of China Ltd: * SHANGHAI STOCK EXCHANGE FILING SHOWS BLOCK TRADE OF BANK OF CHINA'S 208.02 MILLION A-SHARES INVOLVING 750.95 MILLION YUAN ($108.25 million) ON NOV 21 Source text ...
Moody's Investors Service ("Moody's") have assigned an A1 rating to the proposed senior unsecured notes to be issued by Bank of China Limited (BOC), Hong Kong Branch: ** HKD-denominated fixed-rate, ...
China's yuan has been under depreciation pressure this year amid rising headwinds for the broad economy, and an escalating Sino-U.S. trade dispute also heightened worries over growth outlook. The market's focus has now shifted to whether the central bank will firmly defend that level or let the yuan weaken further, and how much. ** Nov 7 - The PBOC sells its first yuan-denominated bills in Hong Kong, raising 20 billion yuan ($2.88 billion) and giving it a new tool to manage the currency in offshore markets as it faces further pressure.
Moody's Investors Service ("Moody's") have assigned an A1 rating to the various proposed JPY-denominated and/or CNY-denominated fixed-rate senior unsecured green bonds to be issued by Bank of China Limited (BOC), Tokyo Branch. The bonds will be issued under BOC's USD40 billion medium-term note (MTN) program. The outlooks on the bond ratings and BOC, Tokyo Branch are stable.