A Charles Schwab location in New York, US, on Friday, July 7, 2023. Michael Nagle | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you …
Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Bloomberg | Bloomberg | Getty Images Chinese real estate developer Country Garden Holdings highlighted its difficulties in making offshore repayments, particularly in relation to its U.S. dollar notes. The company failed to repay 470 …
The Evergrande Group headquarters building in Shenzhen is pictured on January 11, 2022 in Shenzhen, Guangdong Province of China. Liang Xiashun | Visual China Group | Getty Images Hong Kong-listed shares of embattled Chinese real estate firm Evergrande tumbled as much as 25% on Monday, after the company said that it would delay a debt …
NANJING, CHINA – AUGUST 18, 2023 – Aerial photo shows a residential area of Evergrande in Nanjing, East China’s Jiangsu province, Aug 18, 2023. (Photo by Costfoto/NurPhoto via Getty Images) Getty Images Shares of Chinese property developer Evergrande skyrocketed by 82% on Wednesday, dominating the gains on the Hang Seng index. Although the stock has …
Residential buildings stand at the Metro Town development, jointly developed by CK Asset Property Holdings Ltd., Nan Fung International Holding Ltd. and MTR Corp., in Hong Kong, China, on Thursday, Jan. 11, 2018. Anthony Kwan | Bloomberg | Getty Images Hong Kong-listed property stocks experienced a significant surge on Monday, driving the Hang Seng Index …
In the Central district of Hong Kong on July 26, 2021, individuals were seen standing in front of an electronic display showing the Hang Seng Index. Stocks experienced a significant decline as China’s decision to reform the private education sector and prohibit tuition firms from making profits took its toll. This development resulted in Hong …
China’s real estate market is facing an acceleration of its troubles as home buyers hesitate to make purchases, resulting in weak sales and cash flow issues for developers. The top 100 developers have seen a drop in new home sales by about a third in June and July compared to the previous year. Edward Chan, …
Signage at a residential project developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023. Bloomberg | Bloomberg | Getty Images JPMorgan has revised its global emerging markets corporate high-yield default forecast, citing increasing concerns about contagion in China’s property sector due to the potential default by Country Garden. …
A woman walks at the Bund in front of the financial district of Pudong in Shanghai, China. Aly Song | Reuters China’s economy is facing a growing number of challenges. The latest credit data for July reveal a decrease in demand from businesses and households for borrowing money. The real estate sector is also struggling, …
Country Garden Holdings Co.’s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022. Qilai Shen | Bloomberg | Getty Images Shares of beleaguered Chinese real estate company Country Garden Holdings slumped to an all-time low on Friday as the company issued a profit warning a day earlier. The stock fell to an …