(March 6): China bulls are set to get more tools to bet on equity gains as the nation’s top underwriter of convertible bonds forecasts more sales. China International Capital Corp, which has arranged US$7.7 billion of convertible notes onshore and offshore in the past seven years, said issuance may at least double in 2017. “We are cautiously optimistic about the stock market,” said Deng Xinyu, a Shenzhen-based fund manager at Bosera Asset Management Co, which oversees 625 billion yuan (US$90.5 billion). Sany Heavy Industry Co’s 0.5 percent security due 2022 rose to 114 yuan from about 110 yuan, according to exchange data. “Even if there is no conversion, coupon rates on convertible bonds are lower than regular bonds.”

Source: The Edge Markets March 06, 2017 14:48 UTC