SHANGHAI :Cash-strapped property developer Fantasia Group China Co said on Monday it will limit trading in its Shanghai bonds, a move seen to be aimed at curbing volatility, following a credit downgrade.
Cai Hongfei, property analyst at Central Wealth Securities, said the changes could reflect a desire to protect investors as many Chinese developers face an uncertain future. Hengda Real Estate Group Co Ltd, the flagship unit of embattled China Evergrande Group, also adjusted the way its onshore bonds are traded, turning from auctions to negotiated transactions since mid-Sept.
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