Bond sales in Korea fall in September amid rate hikes

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Bond sales in Korea fall in September amid rate hikes

Bond issuance in Korea shrank in September from the previous month amid rising interest rates, industry data showed Tuesday.
The value of bonds sold in Asia's fourth-largest economy stood at 64.3 trillion won ($44.9 billion) last month, down 4.2 trillion won from a month earlier, according to the data from the Korea Financial Investment Association (Kofia).
Sales of state bonds declined by 6.2 trillion won to 10 trillion won in September, and those of monetary stabilization bonds dropped by 1.2 trillion won to 8.6 trillion won.
The issuance of corporate bonds fell by 100 billion won to 5.3 trillion won on-month.
Sales of bank bonds, however, jumped 2.4 trillion won to 29.5 trillion won, with those of asset-backed securities (ABS) increasing by 1.4 trillion won to 3.9 trillion won.
Issuance of environment, social and governance (ESG) bonds, a type of sustainability debt offering aimed at financing corporate activities in environmentally friendly and sustainable projects, deceased by 182.4 billion won to 4.8 trillion won.
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