Evergrande Debt Fears Mount, Weighing on Chinese Stocks

📆 25/09/2023 16:57:00
📰 MarketWatch

⏱ Reading Time:
27 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 97%

Portugal Notícia Notícia

Portugal Últimas Notícias,Portugal Manchetes

Widely held Chinese stocks like the e-commerce names have been highly sensitive to economic data and news out of the distressed property sector.

A gloomy development for distressed Chinese property developer Evergrande Group has catalyzed the latest bout of worries over the world’s second-largest economy.

Evergrande said in a Hong Kong filing last Friday that it would not hold expected meetings with creditors on Monday and Tuesday over a proposed restructuring, with a filing on Sunday revealing that the company cannot issue new debt. Due to an investigation by regulators into its Hengda subsidiary, Evergrande does not meet the qualifications to issue new notes, the group said.

Shares in Evergrande tumbled 21.8% in Hong Kong trading on Monday. Other property stocks also suffered, with Country Garden down 7.7%.

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

Escrever Comentário

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

China property stocks tumble as Evergrande drops 25% on debt restructuring roadblockChinese real estate giant Evergrande announced it is unable to issue new notes, and rescheduled a debt restructuring meeting with its creditors.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »