Evergrande soars over 70% leading Chinese property stocks higher after Country Garden avoids default

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

The real estate sector was the top gainer on the HSI, but the overall index was still in negative territory, dragged by health-care and industrial stocks.

also surged, gaining 23% and 26% respectively, while the Hang Seng Mainland Property Index was up about 4%.

The gains come after Country Garden reportedly managed to pay $22.5 million in bond coupon payments on Tuesday, narrowing avoiding default. The bond payments were originally due in August, but Country Garden submitted the payments hours before a 30-day grace period expired.Get Southern California news, weather forecasts and entertainment stories to your inbox.

 

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

 /  🏆 319. in US

United States United States Latest News, United States United States Headlines