Brokerage J.P.Morgan warned on Monday an estimated 2.8 trillion yuan worth of assets under the management of Chinese real estate investment trusts face higher risk following the debt payment delays by Country Garden.
Country Garden, China's largest private developer, is seeking to delay payment on a private onshore bond for the first time after suspending trading in 11 onshore bonds. Trusts may have to use their own profits to bail out existing investors if they fail to honor payments on issued products, Lei and team warned.
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Country Garden shares plunge after trading on 11 onshore bonds haltedHONG KONG : Shares of China's Country Garden plunged more than 12 per cent on Monday morning after the real estate company suspended trading in 11 of its onshore bonds from Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Country Garden shares slump to record low after onshore bond trading haltedHONG KONG :Shares of China's Country Garden plunged more than 12 per cent on Monday morning after the real estate company suspended trading in 11 of its onshore bonds from Monday.The stock hit a new low of HK$0.86, following reports on Friday the company was heading for a debt restructuring that added to conc
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Country Garden shares slump to record low after onshore bond trading haltedMarkets are jittery as more developers default on bond payments amid no signs of stronger support measures from Beijing. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »