A second week of inactivity has closed for the Chinese Government /Bond Market. In the course of these six days, transactions were confined small' blocks and resulted in the bare minimum of fluctuations.
Despite a general belief that the long holders were at a disadvantage Jous position due to the dumping activities of the banks, the market was able to show net gains of small fractions for the past week. In the Jabsence of any alarming developments, much support was available that ils inability to come down automatically meant a slight tendency to go up.
Renewed activities are expected for the forthcoming week in view of the approaching May settlement. As movements are now governed not by the political situation but by prev ing conditions of supply and demand fon the market, a bitter duel between the Jong and short holders is due on the last days of the month when their ability to take up or deliver, respectively, would materially. Strengthen them in their fight.
The week opened quiet with minimum movements registered for the first day, The issues on the upper part of the list were generally firmer. The second day saw a general decline though again. the fluctuations were not at all sul The market went up in its oscillating movements on the third day, the gains being sufleient to wipe fut all losses incurred on Tuesday. The deadlock remained unbroken on Thursday when trading continued to be quiet. The tendency on this day was still upward though the pace was much slower with no issue advancing, more than a quarter point, Hopes of renewed activities were raised on Friday when several big. operators started to buy for cover. Their orders resulted in a sudden increase in the volume of transactions besides a general advance averaging, just below half a point. While It was expected that further gains would be recorded on Saturday, such was not the case as the market again relapsed into dull trading. Minimum. losses were sustained on the last day.
Transactions for the week totaled 38,395,000, Disbandment held top. position in point of fluctuations, having moved by a range of 125. shared honors with Reorganization for the biggest gains of 70.
market:
Following is a tabulated report of Open High Low
Text read from the printed page and cleaned; old type leaves the occasional error.