BlackRock added 31.3 million notes of Evergrande's debt between January and August 2021, pushing its stake in the company to 1% of the assets in its $1.7 billion Asian High Yield Bond Fund, according to Morningstar.
HSBC increased its positions in the company by 40% through July, according to Morningstar. UBS increased its position by 25% through May, the latest date available in the fund tracker's database.At the same time, other large fund firms such as Fidelity, Pimco, and Allianz cut their positions in the company by up to 47% between January and July, Morningstar said.
Growing fears that Evergrande will default on its $305 billion in liabilities has rattled global markets this week as investors worry that a downturn in the Chinese property market will spill over into the global economy.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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World shares jolted by Evergrande crisis as debt payment test loomsGlobal stock markets on Tuesday were caught in the grip of contagion fears sparked by troubles at China Evergrande as growing risks the property giant could default on its massive debt prompted investors to flee riskier assets. horrible not because US debt is defaulting next month? how much is it again? time to buy stocks!!
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Dow tumbles as Wall Street's fears turn to ChinaThe Dow and the broader US stock market fell sharply early Monday as Chinese real estate conglomerate Evergrande's debt crisis made American investors uneasy.
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World stocks tumble over Evergrande contagion fearsEvergrande, one of China's biggest developers, is on the brink of collapse as it wallows in debts of more than $300 billion.
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Stocks tumble as Wall Street's fears turn to ChinaThe Dow and the broader US stock market fell to close sharply lower Monday. The market tumbled over China fears. It was the worst performance since May for the S&P and the Nasdaq, while the Dow logged its worst day since July. We will crash the market before the left can tax capital gains. Calm down everyone, 2 % drop means nothing Havent had any kind of actual correction in a VERY long time. Relax
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China's Evergrande crisis could drag down Tether and other cryptocurrencies: CNBC After HoursOn today's show, CNBC's Kate Rooney explains why Chinese property developer Evergrande's debt crisis could be trouble for Tether. Who green lights this shit content with no fact checking
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