The ATF ALLINDEX Enterprise extended its losses on Wednesday, dropping 0.03%, while the other indices closed in positive territory for the third consecutive day: the flagship China Bond 50 and ATF ALLINDEX Financial rose 0.04%, while the ATF ALLINDEX Financial Corporates and Local Governments held steady, rising just 0.01%.
The China Bond 50 index recorded gains in the bonds of China Minsheng Bank (0.26%), Ping An Bank (0.34%), China Citic Bank (0.19%), Bank of Beijing (0.14%), Hua Xia Bank (0.11%), Xiamen International Bank (0.14%) and the Export-Import Bank of China (0.35%).
Losses were seen in the bonds of Agricultural Bank of China (-0.12%), China Development Bank (-0.09%) as well as Guangzhou Metro (-0.41%) which is a constituent of the ATF ALLINDEX Enterprise, below, and the ATF ALLINDEX Corporates (see further down).
The ATF ALLINDEX Enterprise Bond Index fell 0.03%.
Two industrial names, Guangzhou Metro and Beijing Capital, dragged the ATF ALLINDEX Enterprise down, losing 0.41% and 1.33% respectively.
The ATF ALLINDEX Corporate Bond Index rose 0.01%.
The ATF ALLINDEX Corporates recorded a big gain in the bonds of Henan Transport (0.45%) and a small increase in those of Jizhong Energy Group (0.02%). Both gains were effectively cancelled out by the 0.41%-drop in Guangzhou Metro.
The ATF ALLINDEX Financials Bond Index rose 0.01%.
Agricultural Bank of China, also a constituent of the ATF ALLINDEX Financial, was the only drag on that index, where gains were seen in the bonds of Everbright Financial Leasing (0.14%). The financial names which posted increases in the China Bond 50 listed above additionally contributed to lifting the ATF ALLINDEX Financial, except for the Export-Import Bank of China, which is not a constituent of the ATF ALLINDEX Financial.
All the constituents of the ATF Local Governments rose 0.01%.
This report appeared initially on Asia Times Financial.