Chinese conglomerate Dalian Wanda has sparked volatile trading in Asian high-yield bond markets over whether it will repay a $400mn bond which matures on Sunday.
The debt on Thursday traded up around 46 per cent to 90 cents on the dollar on speculation that investors would be repaid, just days after it collapsed on investor concerns the group did not have enough cash on hand.
The deadline is the latest tremor across a market still reeling from a series of Chinese property defaults after the 2021 failure of developer Evergrande fuelled a wave of contagion.
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