All articles tagged with #china property market
Evergrande, once China’s second-largest property developer, has been delisted from the Hong Kong stock exchange after an 18-month trading freeze and liquidation process, marking its collapse from a peak valuation of over HK$400bn to just HK$2bn amid China’s ongoing property market downturn and massive debt default.
Hong Kong stocks, including the Hang Seng index and Hang Seng Tech index, surged over 4% and 6% respectively after China's Politburo pledged to support the ailing property sector and stabilize the economy. Mainland Chinese stocks also rose, with the Shanghai Composite and Shenzhen Component both posting significant gains. South Korea's economy grew 0.9% in the second quarter, beating economists' estimates. Meanwhile, Taiwan Semiconductor Manufacturing Company (TSMC) plans to invest nearly $2.87 billion in an advanced chip packaging plant to capitalize on the growing demand for artificial intelligence.