Hutchison, Tata Motors Debt Among Biggest Asia Brexit Losers
- Possible ramifications ‘catastrophic’ for debt, Singhal writes
- Motherson Sumi Systems among bonds to fall on Europe exposure
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The damage to Asian bonds from Britain’s vote to leave the European Union has been largely limited to issuers with higher exposure to the U.K. and Europe.
Prices fell for debt of Tata Motors Ltd., which makes Range Rover cars, and Indian automobile component supplier Motherson Sumi Systems Ltd. Debentures sold by companies founded by Hong Kong’s richest man Li Ka-shing were also among the biggest losers as investors consider the political risks of Brexit, according to Nomura Holdings Inc.