August 23, 2017 / 9:22 AM / a year ago

ASIA CREDIT CLOSE: Typhoon keeps trading at bay

HONG KONG, Aug 23 (IFR) - Asian credit and CDS were little changed after Typhoon Hato suspended financial markets.

Hong Kong’s stock market was shut Wednesday after the typhoon reached the maximum category 10 level.

The iTraxx Asian investment-grade index was 1bp tighter at 80bp/81bp, according to Thomson Reuters data. Spreads on Singapore Telecom narrowed 3bp, while China’s and Thailand’s CDS tightened 2bp.

Among recent issues, Cifi Holdings’ perpetual securities were trading around par, recovering ground lost after a tightly priced deal last week, according to Thomson Reuters data.

21Vianet, however, shed gains, trading around par from 100.5 last week.

Kaisa Group’s bonds priced in June were all trading above par, while SoftBank’s non-call six and non-call 10s were cited at 100.1 and 102.6 respectively.

Reporting by Frances Yoon; Editing by Vincent Baby

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