China Convertible Bond Index Opens Down 0.78%

The dispersion here is the story, not the index move: a handful of names falling 5-6% while Ruihu Convertible Bond 02 gains 30% points to idiosyncratic, bond-specific drivers rather than a broad repricing of the asset class. That kind of gap between index direction and single-name behavior matters for anyone treating convertible indices as a clean read on sentiment. Whether the outsized Ruihu move reflects thin liquidity or a genuine re-rating is the open question, and it will shape how much weight the broader index print deserves.