AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Asian bonds nudged higher on Tuesday after Monday's rout but the tone was cautious as investors awaited key results from the US financial sector and the Federal Reserve interest rate decision. The iTRAXX Asia ex-Japan high-yield index - an important measure of risk aversion - moved in by 25 basis points (bps) to 605/610 bps.
"The market is waiting for some key earnings and the Fed's decision. It will take cues from that, so not a whole lot is going to happen before that," said a Hong Kong based trader. Markets plumbed new lows on Monday as a fire sale of US investment bank Bear Stearns to J.P. Morgan Chase & Co spooked investors.
Traders expect the Fed to cut rates by a full percentage point in an effort to underpin financial markets and boost the flagging economy. The Fed decision is expected around 1815 GMT.
South Korean credit default swaps (CDS) - insurance-like contracts that protect against defaults or restructuring - narrowed by 5 bps to 123 bps. Malaysian 5-year CDS recovered to 121 bps, coming in by a similar margin.
Bonds from the Philippines gained three-eighths of a point at the long end of the curve although the cost of insuring debt from Manila did not rebound as sharply. Philippine bonds due in 2032 were quoted at 95.75/96.125 cents to a dollar and 2031 bonds were at 110/110.125. Its five-year CDS nudged in marginally to 258/261 bps.

Copyright Reuters, 2008

Comments

Comments are closed.