Struggling Asia Dollar Bonds Face Pressure From China Supply
- JPMorgan says supply overhang may last longer than hoped
- Regulators should be more aware of managing sentiment: ANZ
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Asia’s dollar bond market, already under pressure as borrowers rush to price deals before interest rates rise, is set to take a further hit from China.
China’s National Development and Reform Commission, the nation’s top economic planning agency, has extended the deadline for offshore bond sales for 16 Chinese issuers to the end of the year, according to a document obtained by Bloomberg. That means even more issuers are expected to sell debt in the offshore market, with companies including developers China South City Holdings Ltd. and Tahoe Group Co. Ltd. securing extensions, according to the document.