KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
Chinese property firms are returning to international bond markets at their fastest pace in nearly four years, signalling a tentative rebound in investor confidence after a prolonged real estate crisis.
What Happened
In just two days, three Chinese property developers issued or marketed offshore bonds — marking the busiest issuance week since mid-2022, according to Bloomberg data.
The deals include:
Yuexiu Property Co Ltd
China Overseas Grand Oceans Group Ltd
Both marketed offshore yuan-denominated notes, even tapping the market on a Friday, typically avoided by issuers
Dalian Wanda Commercial Management Group Co
Sold a US$360 million bond, its first international issuance in three years
Why Sentiment Is Improving
Several developments helped lift market mood:
China Vanke Co Ltd made progress in distancing itself from earlier financial stress
New World Development Co Ltd also took steps to stabilise its balance sheet
Authorities quietly eased the “three red lines” leverage rules, which had worsened the property downturn
Developers stopped filing regular “three red lines” disclosures as early as 2023, reflecting softer regulatory pressure
Key signal: Investors are cautiously reopening their doors to select property names — especially state-backed or systemically important firms.
But Risks Haven’t Disappeared
Despite renewed bond activity:
Defaults and restructurings remain at record levels
Property sales are still weak across most Chinese cities
Market access remains highly selective, favouring stronger developers only
Bottom Line
Chinese property firms are testing investor appetite again — and for now, it’s working.
This week’s surge in bond issuance marks a clear shift in sentiment, but the recovery is fragile and uneven. Sustained access to global credit markets will depend on policy follow-through and a stabilisation in home sales, not just better mood.
Quick Summary
Chinese developers post busiest bond issuance week in almost four years
State-backed and large developers lead the return
Regulatory pressure has eased since the “three red lines” era
Sector risks remain despite improving sentiment
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