Bonds of the Shanghai Pudong Development Bank rose 0.11% on Wednesday. Image: AFP.

All the ATF indices closed in positive territory on Wednesday, with the ATF ALLINDEX Corporates and Enterprise leading the gains and rising 0.03%. The flagship China Bond 50 index, along with the ATF ALLINDEX Financial and Local Governments inched up 0.01%.

The ATF ALLINDEX Corporates gauge rose by 0.45% on Wednesday.

The ATF ALLINDEX Enterprise sub-index increased by 0.45%.

Shaanxi Coal and Chemical Industry, a constituent of both the ATF ALLINDEX Corporates and Enterprise, rose 0.45% and pushed up both these indices.

Other gains include Zhejiang Provincial Energy (0.05%), Hebei Iron and Steel (0.03%) and Jizhong Energy Group (0.02%) in the ATF ALLINDEX Corporates, and China State Construction Engineering (0.19%) and Dalian Port Group (0.55%) in the ATF ALLINDEX Enterprise gauge, with Nanjing Metro Group losing 0.21%.

The ATF China Bond 50 index edged up 0.01% on Wednesday.

China Development Bank’s bonds lost 0.23% and dragged down the China Bond 50 index, although gains were seen in the bonds of Shanghai Pudong Development Bank (0.11%) and China State Construction Engineering (0.19%). The latter is a constituent of both the ATF ALLINDEX Enterprise and the China Bond 50 index.

The ATF ALLINDEX Financial sub-index was up by 0.01%.

The gains in Shanghai Pudong Development Bank’s bonds boosted the ATF ALLINDEX Financial, of which it is also a constituent, along with GMAC-SAIC Automotive’s paper. These bonds rose 0.12%. Huishang Bank and Xiamen International Bank posted smaller gains, rising 0.03% and 0.05% respectively.

All the constituents of the ATF ALLINDEX Local Government gauge rose 0.01%.

Also on Asia Times Financial:

Digital yuan likely means death for WeChat Pay, Alipay

This report appeared first on Asia Times Financial.