SINGAPORE: Bonds and stocks of major Chinese property developer Country Garden fell on Friday , as investors became increasingly concerned about its finances and repayment ability.
Country Garden is one of China's top market players and any hint of trouble there could send shockwaves through the property sector, even as embattled China Evergrande Group, the world's most indebted property developer, goes through a debt restructuring process. "That doesn't get them completely out of the woods," said one Country Garden bondholder who declined to be identified, adding that the developer was facing a further batch of bonds maturing in coming months.
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