One of China’s biggest property developers says it has burned through up to $7.6 billion in the first half of the year, compounding the crisis coursing through the country’s embattled real estate sector. Country Garden…
PROPERTY
Morning Bid: China property troubles plague Asia stocks
With the Bank of Japan keeping JGB yields around 0.62%, the widening spread lifted the dollar to a fresh 2023 peak of 145.22 yen on Monday. Anything above 145.00 risks Japanese intervention, but bulls have…
China property crisis deepens: Country Garden shares slide on bond suspension while Sino-Ocean misses interest payments
China’s property crisis worsened as state-backed developer Sino-Ocean Group Holdings missed interest payments and shares in developer Country Garden slumped further after it suspended trading of some onshore bonds.
METALS-Copper weighed down by China property woes, stronger dollar
LME aluminium CMAL3 shed 0.3% at $2,168.50 a metric ton, tin CMSN3 fell 1.9% to $25,950, zinc CMZN3 shed 0.7% to $2,381.50, lead CMPB3 was little moved at $2,111, while nickel CMNI3 rose 1.9% to…
China’s Economic Recovery Faces Fresh Risks From Property Crisis
China’s economic recovery is being weighed down by a worsening property slump, with latest data likely to show little sign of a rebound in growth.
China property woes spread, adding to national economic gloom
HONG KONG — Last month, China’s Communist Party Politburo raised the hopes of investors in the nation’s beleaguered property sector, issuing a pronouncement at the end of its July meeting that was widely interpreted as…
China’s Home Buyers Are Waiting Out the Property Slump
The wait-and-see attitude of home buyers is deepening the slump and complicating policy makers’ attempts to revive economic growth.
Once Asia’s richest woman, China property tycoon loses more wealth than any billionaire
Yang Huiyan, the once-richest woman in Asia, lost 84% of her wealth from its peak in 2021 due to the deepening debt crisis of her Chinese property development company, Country Garden Holdings Co.
Asian billionaires lose huge fortunes amid China’s property crisis
Hordes of Asia’s billionaires have lost vast sums amid a crisis in China’s property industry, with some losing as much as three-quarters of their fortunes.
Country Garden restructuring fears deepen China property concerns
Country Garden’s shares hit a record low on Friday on fears that the Chinese property company is preparing for a debt restructuring, adding to concerns about the property sector outlook in the absence …
China property giant Country Garden warns of up to $7.6bn loss
Country Garden, which is one of China’s biggest property developers, has warned that it could see a loss for the first six months of the year of up to $7.6bn (£6bn). The announcement is the…
China’s heading for another real estate crisis — but it’s on a whole different scale than what it’s seen before
China’s property sector is teetering on another Evergrande moment, as a developer with almost $200 billion of debt is in deep trouble.
China’s Property Market Is Critical for Growth. Now It’s Broken.
China’s massive real-estate market is back in trouble after a first-quarter flicker that the sector might be stabilizing.