Ping An loses $2.1 billion in market value, China property rallies on Country Garden rescue report

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 53%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Ping An loses $2.1 billion in market value, China property rallies on Country Garden rescue report

© Reuters. Company logo of Ping An Insurance Group is shown at a news conference following the company's announcement of its annual results in Hong Kong, China March 16, 2016. REUTERS/Bobby Yip/File PhotoHONG KONG - China property stocks rallied and Ping An Insurance Group shares slumped to a one-year low on Wednesday after Reuters reported Chinese authorities had asked the firm to take a controlling stake in troubled developerPing An's Hong Kong-listed shares tumbled 5.

"This move is a big boost to market confidence, because now the whole real estate market, especially some major real estate enterprises are under pretty big pressure, and their bankruptcy risks triggering a chain reaction."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ping An loses $2.1 bln in market value, China property rallies on Country Garden rescue reportChina property stocks rallied and Ping An Insurance Group shares slumped to a one-year low on Wednesday after Reuters reported Chinese authorities had asked the firm to take a controlling stake in troubled developer Country Garden.
Source: Reuters - 🏆 2. / 97 Read more »