The ATF China Bond 50 index fell 0.09%.

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 Financials Index declined 0.08%.

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.

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 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 Corporates Index dropped 0.09%.

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%.

The ALLINDEX Local Government Index rose 0.03%.

No losses were observed among the ATF ALLINDEX Local Governments, in which all constituents gained between 0.02% and 0.03%.

This report appeared first on Asia Times Financial.