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China Evergrande Collapse

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  • ry0972
    Senior Member
    • Dec 2005
    • 241
    #41
    This could be the start of some really BIG and BAD hits in the Chinese financials!!!
    Or China does everything it can to contain it till after the Olympics??

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      • TOM4CWB
        Senior Member
        • Dec 2000
        • 16511
        #42
        Originally posted by jazz View Post
        Evergrande finally defaulted today and is moving to bankruptcy proceedings.
        Not quite...

        "WSJ: Chinese Developers Rally on Policy Hopes as Evergrande Again Averts Default
        Central bank considers easing rules on leverage to help struggling developers sell off assets

        A China Evergrande development on the outskirts of Nanjing.
        PHOTO: QILAI SHEN/BLOOMBERG NEWS
        By Frances Yoon and Quentin Webb
        Updated Nov. 11, 2021 5:12 am ET


        Stocks and bonds of Chinese developers jumped on signs that Beijing could moderate its tough stance on the beaten-down property sector, while industry heavyweight China Evergrande Group again averted default by making another set of last-minute bond payments.

        On Thursday in Hong Kong, the Hang Seng Mainland Properties index gained 5.6%, building on a rally in the previous session. Some real-estate stocks surged more, with China Aoyuan Group Ltd. gaining 12% and China Vanke Co. jumping 6.7%."

        Never doubt the Chinese capacity to save face and bolster its interests....

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          • errolanderson
            Senior Member
            • Jan 2012
            • 3150
            #43
            The poster child of China's property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond payment earlier this month.

            "We assess that China Evergrande Group and its offshore financing arm Tianji Holding Ltd. have failed to make coupon payments for their outstanding U.S.-dollar senior notes," S&P said in a statement.

            No financial contagion into North America and Europe, they say (hope, wish, pray) . . . .

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