The Shanghai Composite Index closed up 5.8% on Thursday in its biggest daily gain since 2009 as about 600 stocks in the benchmark index rose by the daily 10% limit and another 1,439 firms saw trading halt in Shenzhen and Shanghai, effectively freezing half of the market, Bloomberg reported. Officials had unveiled market-boosting measures throughout […]
Category: Banking & Finance
At least 30 developers whose share prices are plunging on mainland exchanges are preparing to issue bonds onshore with record-low interest rates, South China Morning Post reported, citing Powerlong Real Estate president Hoi Wa-fong, who added that his own firm would submit an application to issue bonds soon. The turn to debt from equity comes […]
Home-rental start-up Xiaozhu.com has raised US$60 million from four private equity firms, valuing the company at more than US$300 million for the Chinese flat-sharing service, The Wall Street Journal reported, citing a statement from the company. A glut of vacant homes in China has fueled interest among homeowners to sign up with companies that can help […]
Bourse biopsy
The China Securities Regulatory Commission has announced it will let brokerages securitize margin loans and to accept new kinds of collateral – including real estate – from clients whose stock account value falls below 1.3 times the amount of borrowed money, Bloomberg reported. The regulator, which cut short a public consultation period for the rules […]