China Convertible Bond Index Opens Flat; Longxing, Yongdong 2 Lead Gains

The dispersion here is the story: a flat headline index masking a 6.79% single-name move and a 2.15% decline on the other side, which points to idiosyncratic, issuer-specific trading rather than any broad convertible or equity beta. That matters for credit-sensitive holders, since China's convertible market is largely a small- and mid-cap financing venue where individual names can detach sharply from the index. Whether the leaders hold their gains or fade, and whether the decliners stabilize, is the open question.