China Vanke, Longfor Bonds Extend Rally After Regulator Meeting

More signs of potential Chinese official support helped extend a rally in two Chinese developer bonds that have been the best performers in Asia’s high-grade credit market this month.

A Longfor Group Holdings Ltd. note due 2028 climbed 4 cents to 52 cents and China Vanke Co. bond due 2029 rose 2 cents to 58 cents. While those are still distressed levels, the companies’ notes in a Bloomberg index of Asia investment-grade dollar bonds respectively returned 18% and 44% in the week through Tuesday, following losses last month of at least 25% each that were the largest in a year. ...