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Chinese Property Market

All articles tagged with #chinese property market

business2 years ago

Tech Giants Microsoft and Nvidia Propel Stock Market to New Heights

Sam Altman, former CEO of OpenAI, is joining Microsoft to lead a new artificial intelligence team, along with other employees from the AI startup. This news pushed Microsoft shares to a record high. Nvidia shares also reached an all-time high ahead of their earnings report. Chinese property shares surged after reports of regulators drafting a list of eligible developers for financing. Analysts suggest that China's property market still needs more support. Meanwhile, high interest rates and Treasury yields have led to a boom in cash deposits and money market funds, but some experts believe it's a missed opportunity for investors.

via CNBC|
#artificial-intelligence#business#chinese-property-market
business2 years ago

China's Country Garden Defaults on Dollar Bond, Declared 'Event of Default'

Country Garden, the largest builder in the Chinese property market, has failed to pay $15.4 million in interest on its dollar bonds, marking its first default. The company had previously warned creditors that it would not be able to repay a separate loan due to sales pressure. With its shares losing over two-thirds of their value this year, Country Garden is now likely facing one of China's biggest-ever restructurings. This default adds to the ongoing distress in the Chinese property market, which accounts for about 20% of the country's GDP. The Credit Derivatives Determinations Committees will meet to discuss if a failure-to-pay credit event occurred, potentially triggering credit default swap contracts.

via Euronews|
#business#chinese-property-market#country-garden
business2 years ago

China's Country Garden Teeters on the Edge of Defaulting on $11 Billion Overseas Debt

China's largest private property developer, Country Garden Holdings, is on the verge of defaulting on its $11 billion overseas debt, as it has yet to make a coupon payment due on Wednesday. This potential default would deepen the crisis in China's property sector, which accounts for a quarter of the country's economy. If the payment is not made by midnight in New York, the company will be deemed in default. With $11 billion of offshore bonds and $6 billion of onshore loans, a default by Country Garden could lead to one of China's largest corporate debt restructurings.

via Mint|
#business#china#chinese-property-market
finance2 years ago

Investors Flock to US Stocks Amid Chinese Property Woes and Global Crisis Fears

The ongoing struggles in the Chinese property market have prompted a "dramatic shift" of investment into US stocks, as investors seek safer alternatives. The uncertainty surrounding the Chinese property sector, coupled with concerns over regulatory crackdowns, has led to a surge in interest in US stocks, which are seen as a more stable and reliable investment option. This shift reflects a growing trend of investors leveraging their market expertise to identify opportunities and mitigate risks in the face of economic uncertainties.

via Financial Times|
#chinese-property-market#finance#investment