China Vanke's bonds eased after Moody's starts ratings review

A construction worker at China Vanke Co.'s Isle Maison development in Hefei, China. - Bloomberg

HONG KONG: Dollar bonds of China Vanke, the country's No.2 developer by sales, eased on Tuesday after Moody's said the property company's rating would now be considered for junk status, adding to the woes in the property sector.

Its 2025 bonds were bid at 67.638 cents on the dollar in Asia morning hours, compared to around 68.5 overnight, according to data by Duration Finance. Its 2029 bonds were bid at 43.045 cents, down from 43.6 cents.