China's SSE treasury bonds index closes lower Monday
Monday, Oct 19,2009, 8:07:49 PM Click:
The index of treasury bonds on China's S hanghai Stock Exchange (SSE)closed at 122.03 points Monday, much lower than previous close of 122.12 points.
Market analysts predicted that the downward trend might continue as the to be unveiled GDP growth is estimated to exceed nine percent in the third quarter as aginst 7.9 percent in the second quarter.
The decline of the index might also be caused by a market hearsay, said industrial insider. It is said that the China Insurance Regulator y Commission has decided to lift the proportion of the assets of insur ance companies investing in bonds from 30 percent to 40 percet.
This policy may make insurance companies prefer corporate bonds to government bonds. Amid China's economic recovery, insurance companies may eye high-risk and high-yield assets.
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