China’s once-hot convertible bond market is cooling sharply as a double whammy of falling equities and bond prices caused a key gauge to fall the most in two years. The CSI Convertible Bond Index slumped as much as 5.2% this week in its biggest two-day loss since February 2020, after some popular notes tumbled. The bonds issued by travel services provider UTour Group Co. and glass maker Zhuzhou Kibing Group Co. slid 5%, respectively. The Chinese convertible bond gauge jumped 18% last year even as the stock benchmark dropped, as investors looked for shelters amid a slowing economy and regulatory headwinds. Convertible ... (full story)