HONG KONG, Aug 3 (IFR) - Asian credits put in a solid showing on Thursday, while new offerings were active with at least five issuers marketing US dollar bonds amid a constructive tone in the region.

Investment-grade credits, in general, traded 2bp tighter with the five-year bonds of Chinese property developer Longfor and Chinese chemical company Bluestar outperforming, according to a Hong Kong-based trader.

"Their bonds saw a tightening of 4bp-5bp, given that they offer relatively higher yields among IG names," the trader said. "Market liquidity is still ample; investors need to find ways to deploy their cash."

The iTraxx Asia IG index tightened marginally, indicated at 79.50bp/80.25bp.

Recent new issuer China Chengtong's 3.625% 2022s tightened a further 2bp and were bid at 178bp over Treasuries. The bonds had tightened around 2bp yesterday from reoffer of 182.5bp.

Sunac China's newly priced dual-tranche bonds of US$1bn were hovering around reoffer.

The Chinese property developer priced US$400m of 6.875% three-year notes at 99.005 to yield 7.25% and US$600m of 7.95% five-year non-call three notes at 98.991 to yield 8.20%.

CreditSights initiated coverage of Sunac's 2020s with a "market perform" call and its 2022s with an "outperform" for short-term trading.

Vedanta Resources' 6.375% 2022s gained 0.1 point and were bid at a cash price of 103.638 to yield 5.53%.

Industrial Bank of Korea's US$300m 3.90% AT1 priced last month traded up around 0.2 point to a cash price of 101.853, even though the lender had guided that it might need to issue extra AT1, of up to US$1bn. (Reporting by Carol Chan; editing by Dharsan Singh)