“We think there is a structural change underway in China’s property sector.” James McCormack, managing director, global head of sovereigns at Fitch Ratings, discusses China’s credit rating and his …
Tagged By property
China New-Home Prices Drop at Faster Pace as Slowdown Worsens
China home prices dropped for a second month in July, a further sign of the deepening property slowdown that’s weighing on the world’s second-largest economy.
JPMorgan ramps up EM default rate forecast amid China property woes
JPMorgan ramped up its 2023 global emerging market corporate high yield (HY) default rate forecast to 9.7% from 6% on Tuesday following the latest wave of problems in China’s property sector. The U.S.
China’s Jan-July property investment down 8.5% y/y
Property investment in China fell 8.5% in the first seven months from the same period a year earlier, after sliding 7.9% in January-June, according to data from the National Bureau of Statistics (NBS) on Tuesday.
China’s property investment slides for 17th month in July
China’s property investment extended its fall for the 17th consecutive month in July, and home sales slumped, official data showed on Tuesday, as a deepening debt crisis weighs on the sector. Property investment fell 17.
Oil prices end lower as China property woes stoke worries over demand
Oil futures ended lower Monday, seeing some pressure amid worries about China’s property sector. Losses were modest, however, with the market seen as potentially overdue for a pullback after key crude benchmarks on Friday logged…
Major Chinese Real Estate Developer Craters To Record Low As Potential Default Reminds Investors Of China’s ‘Real’ Recession Risk
The Country Garden news reinforced the notion that “recession risks in China are real,” explained Sevens Reports’ Tom Essaye, alluding to concerns about deflation, diminished consumer spending and a …
China’s Shadow Banks Could Be Another Property Casualty
Missed payments from a well-connected trust firm come as China’s property market sinks again—and banks step back.
Chinese property giant Country Garden warns of $7.6 billion loss as it nears default
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…
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.
