By , SHANGHAI (Reuters) - China’s bondholders are increasingly worried that there is little to protect them from being railroaded into bad deals by troubled borrowers amid a wave of virus-related extensions and restructurings.The country’s 25 trillion yuan ($3.53 trillion) corporate bond market has become an increasingly important funding channel for Chinese companies and government-backed vehicles, but it has limited experience with distress or default.While bondholders the world over fret about what happens when a company can’t repay them, those in China say they have few established...…By , SHANGHAI (Reuters) - China’s bondholders are increasingly worried that there is little to protect them from being railroaded into bad deals by troubled borrowers amid a wave of virus-related extensions and restructurings.The country’s 25 trillion yuan ($3.53 trillion) corporate bond market has become an increasingly important funding channel for Chinese companies and government-backed vehicles, but it has limited experience with distress or default.While bondholders the world over fret about what happens when a company can’t repay them, those in China say they have few established...WW…

By SHANGHAI, April 15 (Reuters) - An index of China dollar issuers fell to a 10-month low this week as concerns increase over Chinese issuers’ creditworthiness after asset management giant China Huarong Asset Management Co delayed the release of its annual results.The delay by a company that counts China’s Ministry of Finance as its biggest shareholder has prompted worries that any restructuring could leave holders of its U.S. dollar bonds unprotected, raising doubts about the creditworthiness of Chinese issuers even as foreign investors have flocked to the market.The ICE Bank of America...…By SHANGHAI, April 15 (Reuters) - An index of China dollar issuers fell to a 10-month low this week as concerns increase over Chinese issuers’ creditworthiness after asset management giant China Huarong Asset Management Co delayed the release of its annual results.The delay by a company that counts China’s Ministry of Finance as its biggest shareholder has prompted worries that any restructuring could leave holders of its U.S. dollar bonds unprotected, raising doubts about the creditworthiness of Chinese issuers even as foreign investors have flocked to the market.The ICE Bank of America...WW…

By , SHANGHAI (Reuters) -Index provider FTSE Russell has given its final approval for Chinese sovereign bonds to be included in its flagship bond index from later this year, setting the stage for billions of dollars of inflows into the world’s second-largest economy.But a longer-than-expected inclusion period - of 36 months, rather than one year, as FTSE had previously announced - reflects persistent concerns among some global investors about investing in the world’s second-largest bond market.Chinese government bonds (CGBs) will be added to the FTSE World Government Bond Index (WGBI) over...…By , SHANGHAI (Reuters) -Index provider FTSE Russell has given its final approval for Chinese sovereign bonds to be included in its flagship bond index from later this year, setting the stage for billions of dollars of inflows into the world’s second-largest economy.But a longer-than-expected inclusion period - of 36 months, rather than one year, as FTSE had previously announced - reflects persistent concerns among some global investors about investing in the world’s second-largest bond market.Chinese government bonds (CGBs) will be added to the FTSE World Government Bond Index (WGBI) over...WW…

By NEW YORK (Reuters) - An index of stocks across the world dipped on Friday but still posted its strongest weekly gain in five, while benchmark U.S. Treasury yields climbed to 13-month highs, partly on optimism after a $1.9 trillion recovery package was signed into law.On Wall Street, the S&P 500 drifted higher to end up 0.1% on the day and 2.6% for the week, its strongest weekly showing since early February. The Nasdaq underperformed as the rotation from growth to value continued. The Dow Industrials hit an intraday record high every day this week.The Friday spike in Treasury yields...…By NEW YORK (Reuters) - An index of stocks across the world dipped on Friday but still posted its strongest weekly gain in five, while benchmark U.S. Treasury yields climbed to 13-month highs, partly on optimism after a $1.9 trillion recovery package was signed into law.On Wall Street, the S&P 500 drifted higher to end up 0.1% on the day and 2.6% for the week, its strongest weekly showing since early February. The Nasdaq underperformed as the rotation from growth to value continued. The Dow Industrials hit an intraday record high every day this week.The Friday spike in Treasury yields...WW…

By , HONG KONG/ SHANGHAI (Reuters) - Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan on Monday moved to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China’s military.Goldman Sachs, JPMorgan and Morgan Stanley said in filings to the Stock Exchange of Hong Kong that they were beginning steps to terminate 500 Hong Kong-listed structured products they issued to investors with links to values of telecom companies China Mobile, China Telecom and China Unicom or local indexes including the Hang Seng...…By , HONG KONG/ SHANGHAI (Reuters) - Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan on Monday moved to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China’s military.Goldman Sachs, JPMorgan and Morgan Stanley said in filings to the Stock Exchange of Hong Kong that they were beginning steps to terminate 500 Hong Kong-listed structured products they issued to investors with links to values of telecom companies China Mobile, China Telecom and China Unicom or local indexes including the Hang Seng...WW…

By SHANGHAI (Reuters) - S&P Dow Jones Indices on Thursday became the second major index provider to remove some Chinese companies from its index products following a Trump administration executive order, in the latest market disruption from persistent Sino-U.S. tensions.Outgoing U.S. President Donald Trump’s executive order, unveiled in November, is designed to deter U.S. investment firms, pension funds and others from buying shares of Chinese companies designated by the U.S. Defense Department as backed by the Chinese military.S&P DJI said it would remove mainland-listed A-shares,...…By SHANGHAI (Reuters) - S&P Dow Jones Indices on Thursday became the second major index provider to remove some Chinese companies from its index products following a Trump administration executive order, in the latest market disruption from persistent Sino-U.S. tensions.Outgoing U.S. President Donald Trump’s executive order, unveiled in November, is designed to deter U.S. investment firms, pension funds and others from buying shares of Chinese companies designated by the U.S. Defense Department as backed by the Chinese military.S&P DJI said it would remove mainland-listed A-shares,...WW…

By NEW YORK (Reuters) - Wall Street jumped on Friday as encouraging earnings stoked risk appetite and President-elect Joe Biden’s COVID advisory team said it was not considering a nationwide shutdown, but oil prices slid as Libyan output rose and investors worried the resurgent pandemic could hurt global demand.The bellwether S&P 500 and the small cap Russell 2000 both reached record closing highs.“Profits have been refreshingly healthy,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “It’s really a credit to companies’ ability to adapt and grow even...…By NEW YORK (Reuters) - Wall Street jumped on Friday as encouraging earnings stoked risk appetite and President-elect Joe Biden’s COVID advisory team said it was not considering a nationwide shutdown, but oil prices slid as Libyan output rose and investors worried the resurgent pandemic could hurt global demand.The bellwether S&P 500 and the small cap Russell 2000 both reached record closing highs.“Profits have been refreshingly healthy,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “It’s really a credit to companies’ ability to adapt and grow even...WW…

By , SHANGHAI/BEIJING (Reuters) - Domestic tourism in China saw a robust rebound over the just-ended Golden Week holiday, encouraged by the country’s success in stamping out the novel coronavirus, although levels were still well short of last year.Tourism sites were visited by 637 million domestic tourists over the eight-day National Day holiday that started Oct. 1, 79% of last year’s total, China’s Ministry of Culture and Tourism said in a statement on Thursday.Domestic tourism revenues stood at 466.56 billion yuan ($68.7 billion), it added, down from nearly 650 billion yuan a year...…By , SHANGHAI/BEIJING (Reuters) - Domestic tourism in China saw a robust rebound over the just-ended Golden Week holiday, encouraged by the country’s success in stamping out the novel coronavirus, although levels were still well short of last year.Tourism sites were visited by 637 million domestic tourists over the eight-day National Day holiday that started Oct. 1, 79% of last year’s total, China’s Ministry of Culture and Tourism said in a statement on Thursday.Domestic tourism revenues stood at 466.56 billion yuan ($68.7 billion), it added, down from nearly 650 billion yuan a year...WW…

By , SHANGHAI (Reuters) - Scientists in China studying the outbreak of disease caused by the new coronavirus say they have found that two main strains of the virus are circulating in humans and causing infections.The researchers, from Peking University’s School of Life Sciences and the Institut Pasteur of Shanghai under the Chinese Academy of Sciences, cautioned that their study looked only at a limited range of data, and said follow-up studies of larger data sets were needed to better understand the virus’s evolution.The preliminary study found that a more aggressive strain of the new...…By , SHANGHAI (Reuters) - Scientists in China studying the outbreak of disease caused by the new coronavirus say they have found that two main strains of the virus are circulating in humans and causing infections.The researchers, from Peking University’s School of Life Sciences and the Institut Pasteur of Shanghai under the Chinese Academy of Sciences, cautioned that their study looked only at a limited range of data, and said follow-up studies of larger data sets were needed to better understand the virus’s evolution.The preliminary study found that a more aggressive strain of the new...WW…