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%)

Foreign holdings of Chinese bonds reached a new record in January as hopes for a China-US trade deal and indications of a pause in the US Federal Reserve's tightening cycle helped to bolster the yuan. Offshore investors held 1.75 trillion yuan ($259.06 billion) of Chinese onshore bonds at the end of January, according to Reuters' calculations based on data from Shanghai Clearing House and the China Central Depository and Clearing Co (CCDC), the country's primary bond clearing houses.
That was an increase of 25 billion yuan from the previous month, and the highest value on record. Chinese treasury bonds comprised the majority of offshore holdings, at 1.1 trillion yuan at the end of January, up 0.2 percent from the previous month, and also a new record.
Foreign interest in Chinese bonds has been supported in recent months by a more stable yuan currency as hopes grow that the United States and China will be able to reach a deal to resolve their trade dispute. President Donald Trump added to hopes that punishing tariff hikes could be avoided on Tuesday, saying that he could let the March 1 deadline for a trade agreement with China "slide for a little while," but that he would prefer not to.
Trump also said he expects to meet with Chinese President Xi Jinping to close a trade deal, but did not specify a date. He previously said he would not meet with Xi before the March 1 deadline. The yuan gained 2.6 percent versus the dollar in January, its best month in a year.
A cautious shift by the Federal Reserve also boosted the yuan late in the month, with the US central bank discarding promises of gradual rate increases and saying it would be "patient" before making further moves.

Copyright Reuters, 2019

Comments

Comments are closed.