Changes in Chinese corporations
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Chinese markets collapsed on their first day of trading this week after a public holiday as concerns were raised in international markets over the company’s potential for Evergrande in global payments.
But the loss was not as serious as it was feared after the real estate company, which has a total debt of more than $ 300bn, said it would meet a deadline for paying off seafood interest rates.
The issue boosted the futures of Chinese stocks shortly before the bell rang, with the CSI 300 index reviving from the initial 2% inflation to about 1.3% lower in morning trading. CSI 300 Real Estate index rose by 5%.
Evergrande said it paid Rmb232m ($ 35.8m) for the rising sea price in 2025. But the company did not say whether it would receive $ 83.5m for Thursday’s voyage, which is known as the dollar. Next year. The rule was selling for about 26 cents on a dollar Wednesday, indicating expectations for a return soon.
Concerns about the company’s departure from the maritime bank caused many problems turmoil in global markets this week, with Wall Street Monday suffering the most on the day of the sale since May.
Shares climbed into Asia on Wednesday hoping that Evergrande could do the same with its international partners.
The future of the S&P 500 was marred by losses and gains following the announcement of the maritime deal, while Tokyo’s mark on Topix returned from a sharp drop to below 0.6% in what traders called a “smart rest” wave.
Researchers say the slowdown in Chinese retailers to foreign banks has more time to do what is happening in Evergrande, and to encourage last-minute deals. anxiety changes.
“The recent announcement only confirms Evergrande’s efforts and the government’s efforts to address the problem and prevent mistakes,” said Bruce Pang, chief research officer at China Renaissance Bank. He added that Beijing was overcrowded heavily affected by marine errors and can force donors and companies in the industry to negotiate a deal.
“The government is talking a lot about the situation with the onshore bonds – they can fix what is going on [with bondholders] and making payments easier than repatriating, ”said Pang.
Merchants said Evergrande would need a deadline on Thursday to pay off the shipping cost, but the company could try to avoid repaying offshore mortgage payments within 30 days after grace was paid by the deadline.
“Maybe they will negotiate,” said a Chinese financier, the developer’s credit card, adding that Evergrande could “keep trying to come down and negotiate. [the] so is the upper coupon “.
Traders in Tokyo have said that although they have encouraged Chinese heads, the shares will not appear to be very profitable as uncertainty over what will happen at Evergrande continues and the future of paying coupons to the maritime bank is yet to be determined.
The market in Hong Kong, where shares of Evergrande fell nearly 7% on Tuesday before confirming a loss to close 0.5%, closed on public holidays.
Additional reports of Leo Lewis in Tokyo
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