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Nomura - 3 — - 2 “ - 2 ” - 2 Hao Hong - 1 Premier Li Qiang - 1 Hong - 1 Min Lan Tan - 1
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Estate Information Corp - 4 Nikkei - 2 REUTERS - 2 JPMorgan - 2 Service - 1 Bloomberg - 1 Grow Investment - 1 Premier - 1

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6 mentions found


☆ China is stepping up to save its economy this year, but the data just doesn't seem to be getting much better
  + stars: | 2024-02-01 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +5 min
In January, authorities pulled about a dozen moves to stabilize a stock market rout and to support the property sector. But China's economic data isn't encouraging, and investor confidence is still low. Investors are cautiousThe moves gave some support to Chinese markets, but investors are still cautious. China's economic data hasn't been rosy either. Consumer appetite for property is still lowStill, overall consumer appetite for the property market appears to be in the dumps.
Persons: —, Hao Hong, Premier Li Qiang, Hong, Min Lan Tan, Tan Organizations: Service, Bloomberg, Grow Investment, Premier, Reuters, Investors, CSI, Securities Times, Estate Information Corp, Asia Pacific, UBS, Nikkei Locations: China, Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Guangxi, Nikkei Asia
☆ Stocks, bonds in China's Gemdale dive on property crisis fears
  + stars: | 2023-10-17 | by ( Xie Yu Li Gu | Xie Yu | Li Gu | ) www.reuters.com   time to read: +2 min
REUTERS/Thomas Peter/File Photo Acquire Licensing RightsHONG KONG/SHANGHAI, Oct 17 (Reuters) - China's Gemdale (600383.SS) saw its stocks and bonds plunge on Tuesday after the resignation of its chairman, as investors took no chances amid the debt crisis in the key real estate sector. However, investors concerned about the broader debt problems in China's property sector sold off the stock, which dropped by the daily 10% limit in afternoon trading in Shanghai. Gemdale has a total debt of 21.1 billion yuan ($2.88 billion) in the form of bonds due by the end of 2024, according to LSEG data. It ranked as China's 8th largest developer last year, according to private research firm China Real Estate Information Corp. It had sales of 221.8 billion yuan ($30.3 billion) last year and its financial fundamentals were stable, the company said in its annual report published in April.
Persons: Thomas Peter, Ling Ke, Gemdale, Huang Juncan, Ting Meng, Xie Yu, Li Gu, Edwina Gibbs, Miral Organizations: REUTERS, ANZ Bank China, Estate Information Corp, Thomson Locations: Beijing, China, HONG KONG, SHANGHAI, Shanghai, Hong Kong
☆ Hong Kong stocks have worst day in three months on worries about rates and real estate
  + stars: | 2023-10-03 | by ( Laura He | ) edition.cnn.com   time to read: +4 min
Hong Kong CNN —Stocks in Hong Kong suffered their worst day in three months on Tuesday on growing concern about China’s weak housing market and persistently high US interest rates. Real estate stocks were once again among the heaviest losers in Hong Kong. Country Garden, one of the country’s largest property developers, sank 4.4%. Market sentiment was also weighed down by concerns that US interest rates could stay elevated after US Treasury yields hit a 16-year high. Yields on the 10-year US Treasury, which are considered a proxy for US interest rates, reached 4.7% on Monday, the highest since 2007.
Persons: Xu Jiayin, Nomura, “, JPMorgan Chase, Jamie Dimon, ”, Stephen Innes Organizations: Hong Kong CNN —, Energy Vehicle, Evergrande, Estate Information Corporation, Treasury, JPMorgan, Reserve, Federal, Nikkei Locations: Hong Kong, Beijing, Washington, Real, Shanghai, China, Asia
☆ China Risks Property Debt
  + stars: | 2023-09-26 | by ( ) www.reuters.com   time to read: +8 min
Source: China Real Estate Information Corp. (CRIC)The physical size of Country Garden’s real estate portfolio is enormous. The Weight of Debt The ballooning debt crisis could delay the prospect of a recovery of both the property market and the broader Chinese economy, in which real estate is a core pillar. China property sector slump China’s property sales, investment and funds raised by property developers slid in January - August 2023 after a sharp fall in 2022. China's property sector accounts for more than half of global new home sales and home building, according to Nomura. Any contraction in the property sector will affect China’s growth, thus sending ripple effects around the globe as the world’s factory slows.
Persons: Evergrande, homebuyers, Nomura, David Stanway, Jason Lee, –, Moody's, Yawen Chen, Amr Alfiky Organizations: Country, Garden, Estate Information Corp, CIFI Holdings, Sunac, National Bureau of Statistics, China, Investment, REUTERS, International Monetary Fund, Nomura, JPMorgan, Dubai, National Bureau of Economic Research Locations: China, Burj, Burj Khalifa, Sunac China, Kunming, Yunnan province, Beijing, Xuchang, Henan province, United Arab Emirates
☆ China real estate: Home sales by top 100 developers plunged further in July
  + stars: | 2023-08-01 | by ( Laura He | ) edition.cnn.com   time to read: +4 min
The drop in new home sales in China is the steepest monthly decline since July 2022. For the first seven months of this year, new home sales by the 100 developers fell 4.7% from a year earlier. China’s huge property industry was long an important engine of economic growth, accounting for as much as 30% of the country’s GDP. As a result China’s property industry has been mired in a historic downturn in the past two years. And late last year Beijing unveiled a 16-point plan to ease a liquidity crisis in the real estate sector.
Persons: —, …, ”, Nomura, “, Li Qiang, ” Nomura Organizations: Hong Kong CNN, China’s, Hong, Estate Information Corp, People’s Bank of Locations: Hong Kong, China, Beijing, Guangzhou, Shenzhen, People’s Bank of China
☆ Chinese buyers snap up luxury homes as 'hard currency' in soft property market
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterUnder-construction apartments are pictured from a building during sunset in the Shekou area of Shenzhen, Guangdong province, China November 7, 2021. REUTERS/David KirtonBEIJING, Sept 19 (Reuters) - In the southern Chinese city of Shenzhen, where the real estate sector has slowed, luxury property is bucking the downtrend, the official Securities Times reported on Monday, as wealthy buyers seek a safe haven amid a weak market. With the units ranging in size to up to 425 square meters, that suggests some could have reached values of $9.8 million. But new luxury homes are still popular with buyers, who see them as "hard currency" in a feeble property market, the newspaper cited industry insiders as saying. ($1 = 7.0176 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.com RegisterReporting by Liangping Gao and Ryan Woo; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.
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