January 3, 2017 / 4:47 AM / 7 months ago

China briefly halts trade in a goverment bond due to "abnormal volatility"

1 Min Read

SHANGHAI (Reuters) - Trading in a Chinese government bond was briefly halted on Tuesday morning due to "abnormal volatility", the Shanghai Stock Exchange said.

Trade in the 50-year Chinese government bond was halted at 0236 GMT and resumed at 0306 GMT, according to a statement published on the stock exchange website.

The bond was down 5.7 percent at 106.60 yuan as of 0416 GMT. It fell as much as 10.17 percent to its daily downside limit before the trade suspension.

China bond prices slumped in December after the U.S. Federal Reserve signaled more rate hikes in 2017 than many had expected, adding to a liquidity crunch that has put the market on the skids over the past month.

Reporting by Winni Zhou and John Ruwitch; Editing by Kim Coghill

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