ANI
24 Sep 2021, 12:07 GMT+10
Manila [The Philippines], September 24 (ANI): The coronavirus disease (COVID-19) pandemic's resurgence in recent months has dampened investor sentiment in emerging East Asia even as accommodative policy stances have kept financial conditions stable, according to the latest issue of the Asian Development Bank's (ADB) Asia Bond Monitor.
China, Indonesia, Malaysia, Thailand, and Vietnam posted declines in yields on short-term (2-year) and long-term (10-year) government bonds from June 15 to August 27.
The decline of long-term bond yields in most markets tracked looming uncertainty about recovery prospects amid rising COVID-19 cases. Equity indexes dropped and currencies depreciated in most emerging East Asian markets while foreign portfolio investments flowed outward.
Local currency bond markets in emerging East Asia grew to 21.1 trillion dollars at the end of June, driven by the continuing increase in government bond issuance.
Governments continued to tap local currency bond markets to support pandemic containment and recovery. Outstanding local currency bonds increased 2.9 per cent, accelerating from 2.2 per cent the previous quarter.
Government bonds increased 3.3 per cent to 13.1 trillion dollars compared with 2.1 per cent growth in the previous quarter.
"The emergence of COVID-19 variants and renewed mobility restrictions in some places are stifling the earlier momentum toward a sustained recovery," said ADB Acting Chief Economist Joseph Zveglich Jr.
"However, financial conditions in emerging East Asian economies remain stable, even as they cope with the continuing uncertainty. Some central banks have used small-scale asset purchase programs to improve bond market liquidity and boost private investor confidence."Zveglich said long-term debt is making up more of the region's local and foreign currency debt structure, and the region's sustainable bond markets are expanding.
Emerging East Asia comprises China, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. (ANI)Get a daily dose of Auckland Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Auckland Sun.
More InformationBRUSSELS, Belgium: Meta is holding firm on its controversial pay-or-consent model, a move that could lead to fresh antitrust charges...
LONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
The family of Sayfollah Saif Musallet, a 20-year-old American citizen who was beaten to death by Israeli settlers in the occupied West...
CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
Harare [Zimbabwe], July 14 (ANI): A fantastic three-wicket spell by all-rounder George Linde and a fiery knock from Dewald Brevis helped...
New Delhi [India], July 14 (ANI): Sunrisers Hyderabad have roped in former India tearaway Varun Aaron as the new bowling coach ahead...
New Delhi [India], July 14 (ANI): In Season 2 of Delhi Premier League, the Outer Delhi Warriors are leaving no strides on maintaining...
(250713) -- BEIJING, July 13, 2025 (Xinhua) -- This aerial drone photo taken on July 13, 2025 shows a view of Yangzhou Port in Yangzhou,...
Chandigarh (Haryana) [India], July 13 (ANI): Haryana Chief Minister Nayab Singh Saini on Sunday met with the family of Squadron Leader...