Asia markets up but fears over Chinese real estate linger | Malay Mail

📆 12/8/2021 1:44 PM
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HONG KONG, Dec 8 — Asian stocks were broadly up today after a strong lead from Wall Street, but fears lingered over China’s debt-hobbled property sector. The main indexes in New York had rallied as worries about the impact of the Omicron coronavirus variant faded. In Hong Kong, Chinese real...

HONG KONG, Dec 8 — Asian stocks were broadly up today after a strong lead from Wall Street, but fears lingered over China’s debt-hobbled property sector.

Kaisa, China’s 27th-largest property firm but one of its most indebted, became the latest company to spook investors when it announced Friday that it had failed in a bid for a debt swap that would buy it crucial time. Yesterday, Evergrande missed a deadline to repay some of its overseas creditors, raising the prospect of a default as it prepares for a government-backed mega-restructure.At the close in Hong Kong today, the Hang Seng Index was up 0.06 per cent at 23,996.87.Shanghai and Shenzhen both finished up by more than one per cent.

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Chinese property firm Kaisa suspends share trading | Malay MailHONG KONG, Dec 8 — Chinese property firm Kaisa suspended share trading in Hong Kong on Wednesday as questions swirl over its ability to make repayments and contagion spreads within the country’s debt-ridden real estate sector. The Chinese government sparked a crisis within the property sector...
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