Asian Convertible Bonds Score a Record Rally in September

Asia’s convertible bond market posted its strongest monthly performance on record in September, buoyed by investor enthusiasm for artificial intelligence plays.

The ICE BofA Asia Pacific Global 300 Convertible Index surged 13%, outpacing a 4.6% rise in the global benchmark. Alibaba Group Holding Ltd was the leading contributor, with its note due in 2031 gaining 28% during the period.