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CHINA VANKE Slips 8.5% Once; Some Bonds Hit Record Low
Recommend 7 Positive 3 Negative 7 |
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CHINA VANKE (02202.HK) is seeking to delay bond repayment arrangements, causing some bond prices to plummet to record lows, foreign media reported. CHINA VANKE opened 5.41% lower today (27th), diving as much as 8.5% to bottom at HKD3.55, marking a historical low. It last reported at HKD3.66, down 5.67%, with a trading volume of 88.8215 million shares, involving HKD321 million. Leonard Law, a senior credit analyst at Lucror Analytics, commented that Vanke's default indicates a waning willingness of the Chinese government to support the real estate market, which will exacerbate the industry's downturn and make it more difficult for other developers to issue bonds for refinancing. AASTOCKS Financial News Website: www.aastocks.com |
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