China convertible bond index opens down 0.16%

The dispersion here is more telling than the headline dip: a handful of names falling under 2% alongside two convertibles up 30% points to idiosyncratic, name-specific moves rather than a broad repricing of the asset class. That gap is worth noting because convertible indices are typically dominated by a few large, liquid issues, so single-name swings can distort the read-through for the wider market. Whether the 30% gainers reflect genuine fundamental catalysts or thin-liquidity quirks is the open question, and whether the decliners' softness spreads beyond the leading laggards is what to watch.