DIRS.INFO The most relevant business & tech news

☆ Asia stocks slide amid China woes, Japan catches up on chip sell-off
▼ + stars: | 2023-09-19 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

Hong Kong's Hang Seng (.HSI) declined 0.3%, with a subindex of tech stocks (.HSTECH) sliding 0.7%. An index of mainland blue chips (.CSI300) fell 0.4%, while a subindex of property stocks (.CSI000952) was flat. Weakness in Asia came despite small gains for Wall Street overnight, with U.S. stock futures flat. U.S. West Texas Intermediate crude futures rose 90 cents, or 1%, to $92.38, just under a 10-month high reached on Monday. Brent crude futures rose 27 cents, or 0.3%, to $94.70 a barrel.

Persons: John Pearce, HSI, Hang, Kevin Buckland, Lewis Jackson, Stephen Coates Organizations: Benchmark U.S, Treasury, Federal, Bank of Japan, Bank of England, Japan's Nikkei, Tokyo, Reuters, Unisuper, Hang Seng developers, HK, Garden Services Holdings, Wall, U.S, Traders, U.S . West Texas, Brent, Thomson Locations: TOKYO, Hong Kong, Australia, Asia, U.S, Saudi Arabia, Russia

☆ Chinese property developer Country Garden to be removed from Hang Seng Index on Sept. 4
▼ + stars: | 2023-08-21 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The headquarters of China's developer Country Garden Holdings in Foshan, in China's southern Guangdong province. Chinese real estate company Country Garden Holdings is set to be removed from Hong Kong's Hang Seng Index on Sept. 4. The index's operator said Country Garden will be replaced by pharmaceutical firm Sinopharm. Property management firm and affiliate Country Garden Services Holdings will also be removed from the Hang Seng China Enterprises Index. The Hang Seng China Enterprises Index serves as a benchmark that reflects the overall performance of mainland securities listed in Hong Kong.

Organizations: Garden Holdings, Garden Services Holdings, Hang Seng China Enterprises, Seng China Enterprises Locations: Foshan, China's, Guangdong, Hong Kong

"The major thing that we see now is onshore-traded Country Garden bonds going down," he said. Country Garden is a giant with thousands of projects in nearly 300 Chinese cities. Li Changjiang, the president of Country Garden Services, sold 3.2 million shares of the company last week, reducing his stake to 0.11% from 0.21%. They also cut its price target to HK$0.9 from HK$2.3 and that of Country Garden Services Holdings to HK$6.7 from HK$22. "Distressed Chinese property developers’ bond restructurings can buy them some room," Fitch Ratings said in a report on Monday.

Persons: Longfor, Wanda, Yao Yu, Morgan Stanley, Morgan, Li Changjiang, Fitch, Jason Xue, Tom Westbrook, Clare Jim, Xie Yu, Georgina Lee, Marc Jones, Kim Coghill, Jamie Freed, Barbara Lewis, Christina Fincher Organizations: HK, Dalian, Garden, Country Garden Services, Garden Holdings, Garden Services Holdings, China, Greenland Holdings, Ocean Group, Thomson Locations: SHANGHAI, SYDNEY, China, Hong Kong, Evergrande, Cayman Islands, Shanghai, Sydney, London

☆ China developer Country Garden shares extend losses on debt worries; others fall
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI/SINGAPORE, July 24 (Reuters) - Shares and bonds in Chinese property developer Country Garden (2007.HK) and its property service arm Country Garden Services Holdings (6098.HK) tumbled on Monday, extending losses from the previous week on debt concerns. More liquidity troubles surfaced in China's property sector last week, sending down shares and bonds of the country's biggest developers. Country Garden Services Holdings shares slumped more than 10% on Monday, while Country Garden fell more than 5%, with both down to their lowest level since last November. Two onshore-traded bonds of Country Garden , plunged roughly 20% each, and some of its offshore-listed bonds also declined. Shares in other developers, including Longfor Group (0960.HK), China Overseas Land & Investment (0688.HK) and Sunac China Holdings (1918.HK), also slumped on Monday.

Persons: Jason Xue, Tom Westbrook, Kim Coghill, Jamie Freed Organizations: HK, Garden Services Holdings, Country Garden Services Holdings, Mainland Properties, CSI, Longfor, China Overseas Land & Investment, Sunac China Holdings, Thomson Locations: SHANGHAI, SINGAPORE, China, Shanghai, Singapore

Search resuls for: "Garden Services Holdings"

4 mentions found