![]() ![]() Ho said supportive policies, including faster mortgage approvals and local government efforts to continue infrastructure construction would further benefit investment-grade firms. Recent rating downgrades, such as S&P Global's move to relegate Shimao Group Holdings (0813.HK) to speculative grade, have also helped to clarify risks and could serve to stabilise investment-grade spreads, investors say. Morgan Asset Management, adding that included some better capitalised state-owned firms in a position to snap up distressed assets in the sector. ![]() "The widening of IG spreads provides select opportunities for investors to gain exposure to high quality issuers," said Shaw Yann Ho, head of Asia fixed income at J.P. The search for bargains has heated up after the selling extended to investment-grade (IG) names (.MERACCG), pushing their spreads to a near-seven-month peak, and on hopes that regulators may ease property curbs to avoid a sector-wide collapse.Ī series of narrow escapes from defaults by China Evergrande Group (3333.HK), whose cash crunch sparked the sell-off, has helped to soothe nerves, though developers have continued to miss or make late payments on their debt. Yet, since the October WeChat group buy, the price of the Yango unit's January 2022 bond has fallen more than 50% and the company has extended its repayment date by a year.Įven as worries over the payment abilities of Chinese developers continue to fester, driving the spread - or risk premium - on their riskiest dollar debt (.MERACYC) to record highs, some investors in China and overseas see similar opportunities in discounted Chinese debt. 22, the group had collected more than $300,000 as the organizer urged calm - before pitching another group buy of a Greenland Holdings (600606.SS) bond. "We have $100,000 secured, if we collect $200,000 it's READY GO" the organiser told a WeChat group in messages seen by Reuters. Yango, whose Chinese name means Sunshine City, had been hit by a series of credit rating downgrades over its weakened access to funding and would go on to reach agreements with investors to extend other debt payments to avoid a default. Punters were invited, via WeChat, to pool a minimum of $50,000 each for a chance to double their money, with a downside likely limited at 50%, according to a source who was invited to participate. The first target was a 5.3% January 2022 bond issued by a unit of Yango Group (000671.SZ), trading at around half its face value and yielding in excess of 400%. Business-end connection: By leveraging Tencent's customer-end experience and capabilities, businesses can provide more customized products and services to serve the unique needs of their customers.SHANGHAI, Nov 12 (Reuters) - In late October, as a growing liquidity crisis across China's property sector walloped developers' bonds, a group of Chinese finance professionals got together on the messaging app WeChat to pool their funds and buy the unloved debt.Consumer-end advantage: With access to two major social network platforms (WeChat and QQ), Tencent Cloud allows businesses to reach more than one billion users.Safe and reliable: Backed by 7 security laboratories and 70+ recognized certifications, Tencent Cloud's mission is providing you with safe, reliable, and compliant cloud products and services.Global reach: We currently operate 70 availability zones across 26 geographic regions around the globe, with 2800+ CDN nodes deployed globally, providing strong technical support for enterprises to facilitate their rapid business expansion.Customer first: Our professional after-sales team provides 24/7 technical services to help move your business to the cloud without any hassle.Flexible billing: Pay-as-you-go gives you the most cost-effective way to cloudify your business and experience a multitude of products and capabilities.Business Scenarios: From basic infrastructure to industry applications, Tencent Cloud offers a comprehensive suite of products and services and provides full-stack solutions for a wide range of business scenarios to support the growth of enterprises.Industry Experience: Tencent Cloud has extensive industry experience, providing one-stop solutions across various industries including gaming, finance, education, e-commerce, media, transportation and logistics, manufacturing and more.Multiple benefits: Businesses can enjoy free trials for a variety of products, get access to professional technical guides and tutorials, and communicate with the international community.Featured solutions: With a full range of products and solutions for various industries, enterprises can quickly build systems, and scale up or scale down to save costs and meet their business needs. ![]()
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