China economy whacked by Omicron curbs and stalling property sector January 17, 2022 China’s economy is growing at the slowest pace in a year and a half as the world’s second largest economy contends with a concoction of headwinds, revealed official figures released today. Gross domestic product (GDP) jumped four per cent over the three months to December compared to the same period last year, the National Bureau [...]
Debt ridden Evergrande moves Shenzhen head office to cut costs January 11, 2022 Evergrande has opted to move its head office in a bid to save cash as the company seeks to complete building work and repay investors.
From price inflation and Brexit rows to Evergrande and Biden v Putin: Here are the market risks to watch this year January 4, 2022 The world is a pretty turbulent and unpredictable place at the moment, with Covid variants not making life easier. From tensions between Russia and the US over Ukraine’s NATO membership to Brexit conflicts and China’s Evergrande property scandal, 2022 is set to become everything but dull. So what developments and issues could disrupt or disturb [...]
Evergrande shares halted in Hong Kong as creditors await new restructuring plan January 3, 2022 Embattled Chinese real estate behemoth Evergrande overnight halted trading in its shares on the Hong Kong stock exchange. No reason was given for the share suspension by the firm. The move is the latest turn in the crisis that has engulfed what was once China’s largest property developer. Evergrande is estimated to have built millions [...]
Debt ridden Evergrande races to finish building homes December 27, 2021 Embattled Evergrande has vowed to build four times as many housing units in December than it did in the previous three months.
Outcry: Chinese creditors sue collapsed Evergrande for $13bn December 16, 2021 Chinese creditors have sued collapsed property giant Evergrande for more than $13bn (£9.7bn) for alleged overdue payments.
China’s Evergrande: not so grand financial statements? December 15, 2021 Evergrande Group is the latest listed company to unexpectedly find itself on the verge of bankruptcy. When businesses are thrust into public view for the wrong reasons, my first thought is always whether trouble could have been coming. To see if the Chinese property development giant’s travails could have been anticipated, I looked at its [...]
What is next for Hong Kong’s stock market? December 10, 2021 The Hang Seng Index is down close to 12.8% year to date. What lies ahead, as fears about Omicron dog markets? Hang Seng Index – what is weighing on the index? Year to date (YTD), the Hang Seng Index remained in the red with -12.8% total return, largely trailing behind its global peers such as Nikkei’s 4.1% [...]
Beijing steps in as Evergrande collapse becomes imminent December 7, 2021 For months Chinese property giant Evergrande has been collapsing in slow motion. Now state officials have stepped in.
The City View: December 6: Inflation, Labour’s pro-business push and flooding risks December 6, 2021 Today Andy Silvester looks at a warning from a top Bank of England rate-setter, news from the digital ads market, Chinese property firm Evergrande’s latest struggles against its debt burden and more news on the new Covid variant. Andy is also joined by Sascha O’Sullivan and Elena Siniscalco, who offer their views on politics, Keir’s [...]