SINGAPORE/SHANGHAI—China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, temporarily soothing fears of imminent contagion from the debt-laden property developer. Evergrande, Asia’s biggest junk-bond issuer, is so entangled with China’s broader economy that its fate has kept global stock and…
HSBC CEO Sees Market Impact From Evergrande Debt Woes
September 23, 2021
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HSBC Holdings PLC expects the debt problems involving embattled property developer China Evergrande Group to have an impact on capital markets but does not see any direct impact on the bank, its group CEO said. “I’d be naive to think that the turmoil in the market doesn’t have the potential to have second-order and third-order…
Asian Shares Perk up but Evergrande Jitters Keep Investors on Edge
September 23, 2021
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HONG KONG—Asian shares made cautious gains on Thursday, supported by some positive news from cash-strapped developer China Evergrande Group, while the dollar held near a one-month top after the U.S. Federal Reserve took a hawkish tilt overnight. However, nerves were still frayed about Evergrande’s future and the country’s property sector as a whole, with a…
Risk-Sensitive Currencies Perked up by Evergrande, Dollar Anchored Before Fed
September 22, 2021
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LONDON—Risk-sensitive currencies such as the Australian dollar and Chinese yuan jumped and the safe-haven yen eased slightly on Wednesday after Chinese property giant Evergrande said it would make an upcoming yuan bond coupon payment, allaying immediate fears of a default. Some of the excitement fizzled, however, after traders realised it was still not known whether…
Shares Gain as Evergrande Says It Will Make Interest Payment
September 22, 2021
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World shares and U.S. futures advanced Wednesday after Chinese developer Evergrande said it intends to make an interest payment on its debt that is due Thursday. Shares rose in Paris, Frankfurt and Shanghai but fell in Tokyo. Markets have been rattled by Evergrande’s struggle to meet debt payments and uncertainty over what if anything the…
Investors Grappling With Evergrande Fallout Weigh Risk of Wider Pain
September 21, 2021
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NEW YORK—Investors unnerved by the fallout from heavily indebted Chinese real estate company Evergrande were gauging the potential for a wider shakeout after a selloff hit stocks around the world. For now, many U.S.-based investors believe there is little chance that the woes of Evergande, China’s second-largest property developer, could morph into a systemic crisis…
China Expert Warns Australia of Nuclear Strikes
A Chinese expert is warning Australia that other countries may target the nation for nuclear attacks—all because Australia signed a new security pact with its allies. China’s neighbors are racing to purchase new weapons. They’re bolstering their defenses to counter China’s military expansion. The global stock markets respond to Chinese real estate giant Evergrande’s potential…
Evergrande Falls Further as S&P Warns Chinese Bail Out Unlikely
China Evergrande Group’s stock and bond values fell further on Tuesday, fueling concerns about broader influence after S&P Global Ratings warned that Beijing is unlikely to bail out the developer. Evergrande’s shares in Hong Kong fell as much as 7 percent on Tuesday before closing 0.4 percent down, following a 10 percent drop the previous…
Evergrande Chairman Gives Pep Talk Despite Global Fears Over Default
The chairman of Evergrande Group showcased his faith in the company to get out of its “darkest moment” as soon as possible. The company will fulfill its promise to deliver under-construction projects to home buyers, Chairman Hui Ka Yan said in a letter to employees on the day of China’s Mid-Autumn festival. Evergrande announced on…
Global Markets See Steep Losses as China’s Evergrande Feeds Fear
World stocks flagged a negative sign as steep falls kicked off the new week on Monday. Chinese property developer Evergrande’s escalating liquidity crisis had triggered concerns about spillover risks and widespread pessimism in global markets. MSCI’s all-country world equity index shed 1.63 percent, its biggest one-day percentage fall day in about two months, as Wall…
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