There were chaotic scenes at heavily debt-ridden property developer China Evergrande Group’s headquarters on Sunday, when around 100 disgruntled investors crowded its lobby to demand repayment of loans and financial products, reports Reuters. The incident prompted the company to announce a plan that offers retail investors the choice of three options for repayment from Evergrande’s […]
Category: Markets
China’s newly-announced third stock exchange has issued its proposed listing rules for public consultation, moving a step closer to opening, reports Caixin. The draft rules on public offerings, refinancings and restructurings were published Friday on the bourse’s newly-launched official website, http://www.bse.cn. Chinese leader Xi Jinping announced plans to set up a third national stock exchange […]
US Investment bank JPMorgan cut its price target for the debt-ridden property developer China Evergrande from $0.93 to $0.36 on Friday, with the expectation that there was likely to be more negative news about the companies finances, reports Reuters. The bank also changed its recommendation to underweight from overweight. Evergrande, which has around $20 billion […]
Higher commodity costs pushed China’s factory-gate prices to increase at their fastest rate in 13 years in August, resisting aggressive moves by Beijing to slow a rally in metals prices, reports The Wall Street Journal. Robust demand for coal, steel and other raw materials pushed China’s producer-price index 9.5% higher in August from a year […]
NIO announced the biggest US fundraising plan by a Chinese company since Didi’s ill-fated initial public offering (IPO), causing its value to drop the furthest in almost three weeks, reports Bloomberg. Shares in the electric carmaker fell as much as 6.3% on Wednesday after it unveiled plans to sell up to $2 billion of American […]