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Over 90% of China Bond Funds Dropped Last Week Amid Default Woe

  • 718 bond funds' net asset value dropped last week: Howbuy
  • The 1.03% average decline was the biggest in 3 months: Howbuy

More than 90 percent of Chinese bond funds’ net asset value dropped last week as spreading corporate note defaults fueled investor concerns.

A market value of assets held by 718 bond funds dropped in the five days through April 22, accounting for 95.6 percent of all the fixed-income funds tracked by Shanghai-based research firm Howbuy. The average decline for the week was 1.03 percent, the biggest since the week ended Jan. 8, according to Howbuy.