The figure showed an increase of
21.4 pct compared to the same period last year.
According to the report, bond
profitability rates for most economies in the region were falling during the
quarter amid medium inflation, good economic growth and stable demand by
investors. However, China was an exception due to increasing worries about its
economic growth and inflation.
The ADB said the region’s
domestic bonds totalled $6.2 trillion during the quarter, up 3.5 pct from the
figure of late June and up 11 pct against late September 2011. Government bonds
continued to take a decisive role with a total of $4.1 trillion in circulation
by the end of September, up 3.1 pct compared to the figure of late June.
The bank assessed that Vietnam’s
domestic bonds grew the strongest in the region during the quarter.
However, the market saw a
decrease of 2.7 pct compared to the quarter earlier due to a fall in the values
of government bonds and corporate bonds compared to late June.
The values of circulated
government bonds decreased as a result of a 62 pct tumble in the value of
treasury bills issued by the State Bank of Vietnam.
Several corporate bond markets
saw faster growth compared to the government bond markets, with circulated
bonds valued at $2.2 trillion by late September, up 4.2 pct compared to late
June.
However, there have been
differences in the total values of issued bonds in the third quarters between
economies, increasing 38.1 pct in Malaysia, 13 pct in the Philippines, 10.5 pct
in China, but down 81.3 pct in Vietnam, 25.9 pct in China’s Hong Kong and 8.1
pct in Thailand.
Iwan Azis, Head of ADB's Office
of Regional Economic Integration, said there had been some risks to domestic
bond markets as the US may face fiscal cliff while China’s new leaders would
have to face a slowdown in economic growth. Other potential dangers include
varying investment flows and high inflation.
Developments in developed
financial markets also had negative impacts on regional bond markets, he added.
Dtinews
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