China forex, bond volumes sink with virus keeping traders home

Daily transactions involving the yuan have on average halved since the market reopened on Feb. 3 after a week-plus holiday, compared to levels over the past year, according to data from the China Foreign Exchange Trading System. Daily turnover on cash bonds have been about one-third its 12-month average.

SHANGHAI: China’s currency and bond markets have been devoid of traders as coronavirus cases continue to climb. That has made it tougher to gauge the outbreak’s market impact.

Daily transactions involving the yuan have on average halved since the market reopened on Feb. 3 after a week-plus holiday, compared to levels over the past year, according to data from the China Foreign Exchange Trading System. Daily turnover on cash bonds have been about one-third its 12-month average.