HONG KONG -- Listed bonds issued by China's Tsinghua Unigroup plunged on Tuesday after a local credit agency raised alarm on the state-backed tech conglomerate's mounting debts to finance investments meant to counter U.S. pressure.
Prices of three of Tsinghua Unigroup's yuan-denominated bonds listed on the Shanghai Stock Exchange fell between 15% and 37%, becoming the biggest decliners and most volatile issues among the corporate debt traded on the bourse that day.
