Easing Evergrande fears lift FTSE 100 as investors brace for Fed rate decision September 21, 2021 The FTSE 100 rallied today to cancel out sharp losses registered yesterday, driven by easing fears over the fallout if heavily indebted Chinese property Evergrande collapses. The capital’s premier index finished up 1.12 per cent at 6,980.98 points, up from this week’s starting position of 6,963.64 points. Global markets sold off sharply on Monday, triggered [...]
Evergrande shares nosedive as fears of a messy default mount September 20, 2021 Shares in ailing Chinese property developer Evergrande plummeted to 11-year lows today as fears of a messy default mounted. Watch the full report.
Crypto markets take another hit amid darkening economic outlook September 20, 2021 It’s a sea of red across the cryptocurrency markets today, with Bitcoin falling below $45k for the first time since last Tuesday.
Unease about economic outlook grows as rising prices fuel stagflation concerns September 20, 2021 The last few weeks has seen equity markets struggle to make gains of any significant size, and all the while concerns have been rising about a number of different factors. The lack of a clear narrative, whether it be positive or negative, has seen markets churn in both directions since July, with any number of [...]
Evergrande executives redeemed investment products in advance September 18, 2021 Six executives of China’s beleaguered real estate giant Evergrande redeemed some of the company’s investment products in advance earlier this year. The executives made early redemptions of 12 investment products, between May 1 and September 7, the property group said in a statement on Saturday. The statement on the group’s website did not identify the [...]
Largest-ever wealth drop: Chinese e-commerce mogul loses $27bn September 17, 2021 The founder of a Chinese e-commerce platform has reportedly seen his wealth nosedive $27bn this year – the largest wealth drop in the world on record. Colin Huang, who made his wealth through his platform Pinduouo (PDD), has suffered as a result of China’s hawkish regulations on internet and technology firms. The biggest plunge in [...]
China’s Evergrande should not bet on a government bailout, says state-backed editor-in-chief September 17, 2021 China’s Evergrande, which is battling $300bn in liabilities, should not bet on a government bailout on the basis that it is ‘too big to fail’, the editor-in-chief of a local newspaper has said. The comments from Hu Xijin, from state-backed Global Times, come as Evergrande’s shares nosedive for a fifth consecutive day amid fears of [...]
Cash strapped Chinese property giant Evergrande battles $300bn in liabilities September 14, 2021 Chinese property giant Evergrande has admitted it is under “tremendous pressure” not even a year after its $1.8bn Hong Kong stock exchange float. The beleaguered firm is battling more than $300bn in liabilities, following years of borrowing to fund its rapid expansion. The property group achieved the lower end of expectations, raising $1.8bn from the [...]
Evergrande Property ‘prices at lower end’ in $1.8bn Hong Kong IPO November 26, 2020 Evergrande Property Services Group – part of China’s second-biggest property developer – reportedly achieved the lower end of expectations to raise $1.8bn in its major Hong Kong IPO. The public offering priced at HK$8.80 (85p) per share, according to sources who spoke to Reuters. The marketed range was HK$8.50 to HK$9.75. It comes with Evergrande [...]
Alibaba billionaire Jack Ma named China’s richest man October 10, 2018 Alibaba founder Jack Ma has been named as the richest man in China for the second time in recent years after his wealth rose more than a third to $39bn (£29.6bn). Ma last topped the Hurun rich list in 2014 but has regained his position at the top after a new round of investment in [...]