Traders described the market as patchy, with some areas of outperformance but others with substantial weakness.
The iTraxx Asia ex-Japan investment grade was spotted 0.5bp tighter. It had widened by as much as 20bp in the five days after the US elections, but has tightened by 7bp since Tuesday.
The high-yield sector was jolted by news that Chinese property developer Country Garden had decided to pull a proposed 10 put 5 US dollar bond it was marketing at 5.625%, citing a lack of investor demand.
Huishang Bank`s unrated AT1 bonds lost over a quarter of a point, while Lippo`s bonds were up about a third of a point.
Recent issuer Li & Fung`s Baa3/BBB- (Moody`s/S&P) fixed-for-life perpetual bond continued to see its price plummet. The global supply chain manager`s bonds fell about two points to a bid of 86.777, according to Tradeweb.
On the more positive side were long-dated Asian sovereign bonds. The Philippines` 2041 bonds were up almost two full points. Indonesia`s 2046s rose half a point after gaining two points on Wednesday.
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