Crypto EcoBlog
Country Garden’s struggles come amidst broader turmoil within the Chinese property development sector. China’s leading private property developer Country Garden is grappling with a severe default risk on its offshore debt as it races against time to meet a critical $15 million coupon payment due on Tuesday, signifying the end of a 30-day grace period. Failure to meet this payment will trigger cross defaults, a standard within the company’s bond contracts. The company’s difficulties have...
Read More »Evergrande Shares Jump 80% as Property Stocks Boost China’s Property Sector despite Country Garden’s Problems
Evergrande has seen an impressive spike in shares even though both the HSI and the property sector in China are still struggling. Chinese property developer Evergrande saw its shares jump 82% on Wednesday, outperforming other publicly listed companies on the Hang Seng Index (HSI). Evergrande shares closed at HK$0.640 after climbing 82.86%, according to data from MarketWatch. The company’s previous close was HK$0.350. In the last 5 days, Evergrande shares have climbed over 137%. However,...
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