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Benchmark 10-year bonds rallied on Thursday, sending its yield down as much as 7 basis points to a one-week low, after a newspaper reported the government could raise foreign investment limit on government bonds, citing unnamed sources.
According to a newspaper report, the government may increase the limit for foreign investors in government bonds by $5 billion to $35 billion, earmarking the amount for longer-term investors such as pension funds and sovereign wealth funds.
The 10-year benchmark bond yield fell as much as 7 bps to 7.69 per cent, its lowest since March 5, but it was last trading at 7.73 per cent.
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