(Bloomberg) -- Alibaba Group Holding Ltd.'s 40-year bond posted the biggest losses year to date among Asian dollar bonds, as the Chinese e-commerce giant was hit by a spike in Treasury yields and its market capitalization dropped $30 billion overnight on disappointing earnings.
The $1 billion note, priced in November in a five-part sale, has been hit hard, and four of Alibaba's bonds are among the top 10 worst-performing notes in the region so far in 2018, a Bloomberg Barclays index shows.
Alibaba's 2057 bond is the longest-maturity dollar bond from a Chinese non-financial issuer, according to data compiled by Bloomberg that excludes perpetual notes.
To contact the reporter on this story: Lianting Tu in Hong Kong at ltu4@bloomberg.net.
To contact the editors responsible for this story: Neha D'silva at ndsilva1@bloomberg.net, Finbarr Flynn
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