China saw its second commercial bond default within a month on Friday when a Jiangsu construction company failed to make an interest payment on a RMB 180 million (US$29 million) bond, and the country’s financial markets reacted by climbing during… Read More>>
China Real Estate Stocks Dive After Bond Default
A broad range of China’s publicly traded real estate stocks were punished on stock exchanges in Shanghai, Shenzhen and Hong Kong today as investors reacted to the country’s first corporate bond default on Friday.
The Hang Seng Properties Index of… Read More>>
Agencies Warn of China Developer Risks Amid Credit Scares
Slower sales and rising land prices will put stress on some of China’s real estate developers this year according to recent reports by credit agencies Standard & Poor’s and Moody’s.
The warnings from the ratings agencies happened in the same week that China saw its first default of a corporate bond as the country’s leaders attempt to wean businesses from their addiction to cheap credit.