Chinese high-yield dollar bonds are on a record winning streak, as efforts to buttress the ailing property sector and the government scrapping its Covid Zero policy have boosted the country’s economic prospects.
A plunge in dollar bonds of Adani Group companies quickened on Monday after a rebuttal by the Indian conglomerate failed to ease concerns following a scathing report last week by short seller Hindenburg Research.
Chinese property shares dropped after housing sales fell during the Lunar New Year holidays, underscoring the challenge the country faces in salvaging the real estate sector.
China’s economy showed a few signs of improvement in January as the country charted a path through its second month without Covid Zero curbs, though a major holiday season kept a lid on some activity.
Adani Group touted its deep local and international bank relationships in its 413-page rebuttal of the allegations of fraud by short seller Hindenburg Research.
Gautam Adani published a 413-page rebuttal to a short seller’s allegations of widespread corporate malfeasance, seeking to calm investors in the midst of a $2.5 billion share sale and stem a rout that wiped out more than $50 billion of his group’s market value.
Baidu Inc. is planning to roll out an artificial intelligence chatbot service similar to OpenAI’s ChatGPT, according to a person familiar with the matter, potentially China’s most prominent entry in a race touched off by the tech phenomenon.
Top investment bankers in Asia ex-Japan at Wall Street’s biggest firms are having their worst payouts since the financial crisis more than a decade ago, according to people familiar with the matter.
This time was supposed to be different.
Japanese voters want an election before any hike in taxes to fund Prime Minister Fumio Kishida’s plans for a record increase in defense spending and providing more support for families with children, according to two polls.
