Sunac China Holdings shares and bonds plunged after a local media report that domestic banks are reviewing its credit risk following a deal to buy assets from Dalian Wanda Group, a firm that has attracted scrutiny from China’s leaders for its prolific deal binge. The shares fell 7.3% to HK$15.94, in Hong Kong after earlier plunging as much as 13%, the biggest intraday drop since July 2015. The developer’s 2019 US dollar bonds were set for the largest decline on record, falling 4.9 cents to 98.5 cents on the dollar as of 3:23 pm Hong Kong time, according to Bloomberg-compiled prices. China Construction Bank halted the sale of a Sunac product following a notice instructing the bank to review risks associated with lending to the company, Jiemian reported earlier, citing an unidentified person at the lender. The notice also mentioned Wanda, Fosun International and HNA Group.
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