{"id":6777,"date":"2010-11-29T02:11:22","date_gmt":"2010-11-29T02:11:22","guid":{"rendered":""},"modified":"2010-11-29T03:11:03","modified_gmt":"2010-11-29T03:11:03","slug":"Emerging-East-Asia-bonds-hit-5-1-trillion-in-third-quarter","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=6777","title":{"rendered":"Emerging East Asia bonds hit 5.1 trillion in third quarter"},"content":{"rendered":"

Foreign money poured into emerging East Asia’s bond markets in the third quarter, boosting local currency bonds on issue to $5.1 trillion despite government efforts to slow a tide of cash they worry is pushing their currencies too high.<\/p>\n

The Asian Development Bank report released Monday said the value of local currency bonds outstanding was up from $4.8 trillion<\/strong> at the end of the April-June quarter and 17.2 percent higher than a year earlier.<\/p>\n

The increase was driven by corporate bonds while growth in sales of government bonds slowed as economic stimulus spending was wound down, the ADB said.<\/p>\n

“Companies are taking the opportunity to raise money in Asia’s local currency bond markets because of the growing demand from investors,” said Iwan Azis, who heads ADB’s Office of Regional Economic Integration.<\/p>\n

Azis said foreign investors were attracted to Asian bonds <\/strong>because of the region’s strong economic growth and its higher interest rates compared with developed economies where rates remain at record lows in the aftermath of the global recession.<\/p>\n

Source<\/a>
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