After stock markets across the world posted their worst day in months yesterday, financial analysts have scrambled to get an idea on whether a major source of the woe, China's second-largest property developer the Evergrande Group, will be left to fend off its massive debts alone or if it will receive a bailout from the Beijing government. Today, they received some semblance of an answer.
in its Monday report."We believe Beijing would only be compelled to step in if there is a far-reaching contagion causing multiple major developers to fail and posing systemic risks to the economy." The Evergrande headquarters is seen in Shenzhen, southeastern China on September 14, 2021, as the Chinese property giant said it is facing"unprecedented difficulties." Some say its failure could be imminent.Evergrande ranks as the world's most indebted property developer.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P Global says default by China Evergrande could test government's capacity to backstop 'potentially substantial failures'S&P Global Ratings said Monday a default by Chinese property developer China Evergrande Group will neither lead to a tidal wave of defaults nor mere ripples... good luck
Source: MarketWatch - 🏆 3. / 97 Read more »
S&P does not expect Beijing to provide any direct support to embattled EvergrandeS&P Global Ratings said it does not expect Beijing to provide any direct support to embattled China Evergrande Group , amid growing investor fears the property giant could default on its debt mountain as two repayment deadlines loomed. good
Source: Reuters - 🏆 2. / 97 Read more »
China Evergrande shares plummet to 11-year low on default risksShares of Evergrande on Monday plunged as much as 19% to their lowest in over 11 years, extending losses as investors take a dim view of its business prospects with a fast approaching deadline for payment obligations this week. Instead of catching profitable tech companies, they need to catch rogue directors.
Source: Reuters - 🏆 2. / 97 Read more »
Why Apple's Health App Could Be the Sleeper Hit of iOS 15The new upgrade, out now, brings the iPhone one step closer to becoming the ultimate personal health device
Source: TIMEHealth - 🏆 121. / 63 Read more »
Dollar holds gains, yuan under pressure as Evergrande risks growThe offshore yuan wallowed near an almost one-month low on Tuesday while the safe-haven dollar and yen stood tall as investors sought shelter from a potential China Evergrande default. I wonder what will happen to the price of cryptos that are based on the dollar. For example $Dai coin.
Source: Reuters - 🏆 2. / 97 Read more »
How the Chinese Evergrande crisis affects global marketsThe fear of possible defaulting of Chinese real estate giant Evergrande has caused broad sell-off in global financial markets, even causing a dip in crypto currencies.
Source: trtworld - 🏆 101. / 63 Read more »