SHANGHAI: China's Ministry of Finance auctioned 28 billion yuan ($4.59 billion) of 5-year bonds in the interbank market on Wednesday at an average yield of 4.13 percent, traders said, slightly higher expected.

Market forecasts had centred around 4.11 percent and ranged from 4.05 to 4.15 percent.

The auction yield came in above Wednesday's indicative secondary market mid yield of 3.98 percent for 5-year government bonds.