Defaults, fear of risk hurt corporate bonds

A rising number of companies are either canceling or postponing their bond issuances, suggesting that investors may be turning more cautious and risk-averse, market insiders said.

From January to the middle of June, 356 bonds valued at about 227 billion yuan ($34.5 billion) were cancelled or postponed, according to Wind Info, a market information provider.

As of June 22, some 24 issuers, mostly private companies, defaulted on a combined 23.3 billion yuan worth of corporate bonds, Wind data showed.