Cryptocurrency prices bounced off 1–1/2 month lows on Tuesday as a heavy selloff overnight linked to concerns about a possible loan default by property developer China Evergrande eased slightly, but investors braced for more volatility. Bitcoin, the biggest and the best known cryptocurrency, traded around $43,000, recovering from a fall to $40,192 earlier in the…
Evergrande: China’s Ticking Bomb Explained by Economist Milton Ezrati
September 20, 2021
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Evergrande—the second-largest real estate developer in China—is causing so much trouble for the Chinese regime, and its presence in the economy could also affect U.S. investors. Will it cause a global ripple through the interconnected financial system? The Chinese communist regime must decide if they want to bear the heavy weight of $300 billion in…
NTD Business Full Broadcast (Sept. 20)
The Stock market takes a steep dive today, major indexes down around 2 percent. What caused it? The White House planning to ease travel restrictions for foreign travelers who’ve been vaccinated against the CCP virus. But there are some exceptions. A natural gas crisis in the UK. High gas prices have forced several energy suppliers out…
What Evergrande’s Troubles Reveal About China’s Real Estate Industry and Economy
Commentary The news of the financial crisis of real estate giant Evergrande Group is a shock to China’s consumers. Its shares took a serial decline in the Hong Kong stock market. Consequently, it drew the attention of Wall Street investors. How long can Evergrande last? Is it the beginning of China’s real estate industry slipping…
Wall Street Opens In Red, as Economic Recovery Worries and China’s Property Bubble Troubles Roil Markets
Wall Street’s main indexes tumbled at opening bell Monday, as concerns about the pace of economic recovery, mixed with fears about financial contagion from China’s Evergrande troubles, put selling pressure on risk assets. At opening bell, the Dow Jones Industrial Average fell 125.16 points, or 0.36 percent, to 34,459.72. The S&P 500 opened lower by…
Analysis: Investors Brace for a Great Fall in China
September 20, 2021
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LONDON—International investors that have been piling into China in recent years are now bracing for one of its great falls as the troubles of over-indebted property giant China Evergrande come to a head. The developer’s woes have been snowballing since May. Dwindling resources, set against $305 billion of liabilities, have wiped nearly 80 percent off…
Evergrande Jitters Pull Risk FX Lower, Dollar Gains on Safety Bid
September 20, 2021
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LONDON—The offshore Chinese yuan skidded to three-week lows on Monday, dragging down other risk and commodity currencies as worries about property developer Evergrande’s solvency spooked financial markets, while the safe-haven dollar rose Only on Friday, the yuan hit its highest level in three months at 6.4297 per dollar. The sharp slump in the currency on…
China Evergrande Shares Plummet to 11-Year Low on Default Risks
HONG KONG—Shares of Evergrande on Monday plunged as much as 19 percent to their lowest in over 11 years, extending losses as investors take a dim view of its business prospects with a fast-approaching deadline for payment obligations this week. By noon, the stock had touched HK$2.06, the weakest level since May 2010. The company’s property…
Evergrande Begins Repaying Wealth Product Investors With Property
BEIJING—Cash-strapped developer China Evergrande Group has begun repaying investors in its wealth management products with real estate, a unit of its main Hengda Real Estate Group Co Ltd unit said. Evergrande, with over $300 billion in liabilities, is in the throes of a liquidity crisis that has left it racing to raise funds to pay…
Chinese Buyers Seek Answers at Unfinished Evergrande Apartments
Anxious home buyers flowed into the sales office of a housing complex in central China this week, yet found cranes lying idle and homes unfinished. Images from the complex show bare steel and uncovered balconies of the 16 blocks of housing, which are at various stages of completion. Real estate giant Evergrande Group had been…
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