Investor concerns are shifting to China’s stronger property firms as a selloff across the industry’s dollar bonds turns to higher-quality borrowers.
A dollar bond from China’s largest property firm by sales, Country Garden Holdings Co., fell 2 cents to 77.4 cents Monday morning after tumbling a record 10.3 last week. China Vanke Co., the nation’s second largest, also slid. A dollar note sold by one of its units was indicated down at 96.2 cents after falling 3.2 cents last week, the steepest drop since March 2020.
