23-09-2021, 11:15 PM
Chinese property developer Evergrande has said it would pay some of the bond interest due on Thursday, allaying fears of an imminent and messy collapse that had spooked investors.
Markets in Taiwan and China reopened lower after a two-day break, catching up with a sharp sell-off around the world triggered by concern over Evergrande’s predicament.
But stocks picked up after the promise to repay an estimated 232 million yuan ($35.88m), buoyed the mood.
Evergrande is still due to pay $83.5m in interest on a separate US dollar bond, but the signal on Wednesday that it has at least some ready cash for creditors seems to have cheered investors.
Investors were also encouraged when China’s central bank injected 120bn yuan ($19bn) into financial markets to ease liquidity concerns.
More at https://www.bannedsite.com/forum/current...your-bonus
Markets in Taiwan and China reopened lower after a two-day break, catching up with a sharp sell-off around the world triggered by concern over Evergrande’s predicament.
But stocks picked up after the promise to repay an estimated 232 million yuan ($35.88m), buoyed the mood.
Evergrande is still due to pay $83.5m in interest on a separate US dollar bond, but the signal on Wednesday that it has at least some ready cash for creditors seems to have cheered investors.
Investors were also encouraged when China’s central bank injected 120bn yuan ($19bn) into financial markets to ease liquidity concerns.
More at https://www.bannedsite.com/forum/current...your-bonus