Latest news with #financialmarket
Reuters
a day ago
- Business
- Reuters
State Bank of India likely to tap debt market by Aug via tier II issue, sources say
MUMBAI, June 27 (Reuters) - State Bank of India ( opens new tab is likely to kick off a debt fundraising cycle for state-run lenders in this fiscal year over the next couple of months, with a Basel III-compliant tier II bond issue, three sources familiar with the matter told Reuters on Friday. India's largest lender is looking to raise about 50 billion rupees ($584.59 million) through those bonds, with a 10-year or 15-year maturity in July or August, the sources said. SBI did not immediately respond to a Reuters request for comment. The sources declined to be named as they are not authorised to speak to the media. "The initial level talks have already started, but the duration would be finalised looking at the rates at the time of issuance and investors' interest," one of the sources said. The source further added, SBI could also explore a 15-year structure with a call option at the end of 10 years, like its previous issue. In September, the bank had raised 75 billion rupees through 15-year tier II bonds, which had a call option at the end of 10 years. In the previous financial year, SBI had raised 150 billion rupees through tier II bonds. SBI has not tapped the bond market in the first half of 2025 and shelved a plan to issue infrastructure bonds in March due to elevated yields. No other state-run lender has tapped the debt market in the first quarter of this financial year that started on April 1. ICICI Bank is the only lender to tap the bond market. It raised 10 billion rupees through 15-year tier II bonds earlier this week, with a call option at the end of 10 years at a 7.45% coupon. ($1 = 85.5300 Indian rupees)
South China Morning Post
3 days ago
- Business
- South China Morning Post
Hong Kong's interbank interest rate is poised to rise as the HKMA buys local dollar to defend peg
The Hong Kong Monetary Authority (HKMA) has stepped into the financial market for the first time since 2023 to support the weak local currency, which may lead to an increase in interbank interest rates and add to the burden on mortgage borrowers. The city's de facto central bank sold US$1.2 billion worth of US dollars to buy Hong Kong dollars at HK$7.85 per US dollar, according to a statement on Thursday. The action came after the local currency hit the weak end of its trading band at HK$7.85. The Hong Kong currency's peg with the US dollar has been in place since 1983. In an initiative launched in 2005, the HKMA intervenes to maintain the exchange rate within the trading band of HK$7.75 to HK$7.85 per US dollar. After settlement on Friday, the intervention is expected to decrease the HKMA's aggregated balance – a measure of the Hong Kong banking sector's liquidity – to HK$164.1 billion (US$20.9 billion), down by HK$9.42 billion. Property buyers for China Vanke's Le Mont residential project in Tai Po at the project's sales office in Cheung Sha Wan on Photo: Nora Tam 'When the aggregate balance drops, there [is] less liquidity in the interbank market, which would drive up short-term [interest] rates,' said Tommy Ong, managing director of T.O. & Associates Consultancy. Hong Kong's interbank offered rate, or Hibor, is the interest rate that banks charge each other and is used to price many loans in the city.
Zawya
3 days ago
- Business
- Zawya
Qatar Stock Exchange index soars to new heights amid regional tensions
Doha, Qatar: Qatar's Stock Exchange (QCE) closed today June 24, 2025 at 10,531.87 points, marking a significant increase of 199.05 points or 1.93% from the previous session, despite recent regional security tensions. This positive trend persists since yesterday, highlighting the resilient of Qatar's financial market. The index continues to surge positively following yesterday's trend, with the market recording a trading volume of 3,242,185 shares, valued at QR688mn. In this session, the shares of 50 companies rose, while only those of 5 companies decreased. The banking sector emerged as a key driver, with Qatar Islamic Bank gaining 2.80% and Commercial Bank of Qatar rising by 2.08%. Al Rayan Bank rose by 2.17%, while Dukhan Bank rose by 1.89%. However, Ahli Bank saw a slight decline of 0.41%, indicating some variability within the sector. The insurance sector also performed well, with Alkhaleej Takaful gaining 2.31%, Qatar Insurance gaining 2.13%, and Doha Insurance Group increasing by 2.21%. Conversely, General Insurance experienced a drop of 2.28%, marking it as the biggest loser in this session. The industrial sector showed steady growth, with Industries Qatar up by 1.07%, Qatar National Cement Company rising by 1.71%, and Qatar Industrial Manufacturing Company increasing by 0.08%. The telecommunications sector also saw gains, with Ooredoo rising by 3.64%, and Vodafone Qatar (VFQS) increasing by 1.29%. The services sector recorded notable increases, with Qatar Gas Transport Company (Nakilat) up by 3.60%, Salam International rising by 3.71%, and United Development Company (UDCD) gaining 1.20%. The real estate sector on the other hand showed promising results, with Mazaya (MRDS) up by 3.85%, Ezdan Holding (ERES) increasing by 5.17%, and Inma Holding (IHGS) gaining 4.68%. Meeza QSTP (MEZA) and Al Mahhar (MHAR) also rose by 1.14% and 3.06%, respectively. Top gainers in today's trade are Widam (WDAM) at 7.52%, Qatar German Co. Med (QGMD) at 6.62%, Lesha Bank (QFC) at 5.85%, Ezdan Holding (ERES) at 5.17%, Inma (IHGS) at 4.68%, Mannai Corp (MCCS) at 4.62%, and National Leasing (NLCS) at 4.17%. Moderate gains were recorded also for Al Mahhar (MHAR) at 3.91%, Salam International (SIIS) at 3.71%, Qatar Oman (QOIS) at 3.69%, Ooredoo (ORDS) at 3.64%, Nakilat (QGTS) at 3.60%, and Faleh (FALH) at 3.06%. On the other hand, the biggest losers for this session are General Insurance (QGRI) closing at -2.28%, Islamic Insurance (QISI) at -0.82%, Al Ahli Bank (ABQK), Al Meera (MERS), both closing at -0.41% respectively, while Cinema (QCFS) closing at -0.04%. Nevertheless, the overall investor confidence in the market remains strong, with the index's upward trajectory reflecting optimism about Qatar's economic stability. The year-to-date decline of 0.37% suggests some volatility, but the current session's performance indicates robust activity. QSE's current performance reinforces its status as a stable investment hub amidst geopolitical uncertainties. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Bloomberg
18-06-2025
- Business
- Bloomberg
China Will Hike Quota for Investors Buying Overseas Assets
China will allow some local investors to put more of their money into overseas assets, a sign Beijing is opening up its financial market as the yuan steadies. Regulators will lift a cap on flows under the qualified domestic institutional investors scheme, said Zhu Hexin, head of China's top currency regulator, at the Lujiazui Forum in Shanghai on Wednesday. The quota, which limits investors' ability to load up on assets like Treasuries and overseas equities, hasn't been increased since May 2024.
Bloomberg
12-06-2025
- Business
- Bloomberg
US Treasury's 30-Year Bond Auction Is Met With Solid Demand
An auction of 30-year Treasuries drew solid demand in a sign that the $29 trillion market is so far avoiding an all-out buyers' strike in long-term bonds. A $22 billion auction of the securities on Thursday drew 4.844%, below their yield at around the auction deadline. Long-term Treasuries extended their gains after the sale, pushing 30-year yields lower by eight basis points.
