0345 GMT - HSBC Global Research favors South and Southeast Asian bonds over North Asian bonds, according to a report. Based on HSBC's economic surprise indexes, recent activity data across South and Southeast Asia have been underwhelming, while data across North Asia have been more positive relative to survey expectations, two rates strategists say. "We therefore see more scope for rate expectations across South/Southeast Asia to adjust lower to reflect their greater downside growth risks," the strategists add. For local rates in Asia, HSBC prefers higher-yielding markets like India and the Philippines. HSBC also cuts its end-2025 forecast for India's 10-year government bond yield to 6.00% from 6.25%. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 11, 2025 23:45 ET (03:45 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.