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☆ China pledges more financial support for 'whitelist' real estate projects
▼ + stars: | 2024-10-17 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +4 min

China vowed more financial support for real estate projects that fall under its so-called whitelist and to speed up banks lending of 4 trillion yuan ($561.8 billion) for such projects, according to the nation's housing ministry. A total of 2.23 trillion yuan has been approved in loans to whitelisted developers, and that figure is expected to exceed 4 trillion yuan by the end of this year, according to a senior official from the financial regulator. Real estate was also the leading gainer in Mainland China's CSI 300, advancing by nearly 5%. Days later, officials in a top-level meeting, chaired by Chinese president Xi Jinping, pledged to "halt the real estate market decline and spur a stable recovery." More than 50 cities across China had introduced policies to boost the real estate market, according to Chinese state media citing the housing ministry.

Persons: Ni, HSMPI, Pan Gongsheng, Xi Jinping, Goldman Sachs, —, — CNBC's Evelyn Cheng Organizations: National Financial Regulatory Administration, Investors, China's Ministry of Finance, Mainland, China's CSI, People Bank of China, National Bureau, Statistics Locations: China, Beijing, China's, Guangzhou, Shanghai, Shenzhen

☆ China property stocks jump after Beijing proposes measures to lift troubled sector
▼ + stars: | 2024-10-14 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +2 min

China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector. While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%. Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively. Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%. The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.

Persons: Tommy Xie, Leonard Law Organizations: China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC Locations: Jinmao, Shanghai, China, China's, Asia

☆ Asian shares dragged lower by China, Treasury yields climb
▼ + stars: | 2023-11-24 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Both S&P 500 futures and Nasdaq futures were also little changed. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.6% but are still headed for a weekly gain of 0.8%. Chinese bluechips (.CSI300) fell 0.7% while Hong Kong's Hang Seng index (.HSI) tumbled 1.4%, reversing the previous day's hefty gains. Cash Treasuries fell a little as they resumed trading in Asia, with two-year Treasury yields up 3 basis points to 4.9419% and benchmark ten-year yields up 4 bps to 4.4606%. Brent crude futures fell 0.2% to $81.26 a barrel.

Persons: Kim Kyung, Shane Oliver, Cash Treasuries, Stella Qiu, Sam Holmes, Robert Birsel Organizations: Tokyo Stock Exchange, REUTERS, Rights, Wall, Nasdaq, Hamas, Nikkei, AMP, European Central Bank, Bank of England, Brent, Thomson Locations: Tokyo, Japan, China, Europe, Israel, Gaza, Asia, Pacific, Hong Kong, Beijing

☆ Morning Bid: Giving thanks you're not in China stocks
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. A four-day ceasefire between Israel and Hamas appeared to be holding shakily on Friday with no major reports of attacks, although both sides were accused of violations. The decline marked yet another investor shrug at reports of further official moves to shore up China's ailing property sector. In Europe, data showed Germany's economy shrank slightly in the third quarter, confirming an initial estimate of a 0.1% fall. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, shrug, didn't, Christian Lindner, Geert Wilders, Luis de Guindos, Pablo Hernandez de Cos, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Stock, Mainland Properties, Bloomberg, Nvidia, Finance, Britain's Barclays, Central Bank, Bank of Spain, PMI Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Wall, Israel, OPEC, United States, Friday's, Beijing, Taiwan, China, Europe, British

☆ Asian shares dragged lower by China, dollar on back foot
▼ + stars: | 2023-11-24 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsSYDNEY, Nov 24 (Reuters) - Asian shares were dragged lower by China on Friday amid little guidance from Wall Street which was closed for a holiday, while the dollar remained on the back foot as investors bet U.S. rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased 0.4% but are headed for a weekly gain of 0.9%. Japan's markets (.N225) returned from a holiday, with Nikkei (.225) climbing 1.0% to charge towards a 33-year high hit on Monday. In Europe, slightly better than expected euro zone PMIs nudged the euro and shares higher and Sweden's crown dropped as its central bank left rates on hold. In the currency markets, the dollar < =USD> was on the back foot against its peers at 103.71, nearing a three month low of 103.17.

Persons: Kim Kyung, Shane Oliver, Cash Treasuries, Stella Qiu, Sam Holmes Organizations: Tokyo Stock Exchange, REUTERS, Rights, Nikkei, AMP, European Central Bank, Bank of England, Brent, West Texas, Thomson Locations: Tokyo, Japan, China, Asia, Pacific, Hong Kong, Beijing, Europe

☆ World stocks scale 2-month high boosted by rate cuts bets
▼ + stars: | 2023-11-15 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 20, 2023. The British consumer price index rose by 4.6% in the 12 months to October, slowing from September's 6.7% increase, the Office for National Statistics said. He sees a "more complicated" process ahead, where stock market exuberance eventually collides with bond market expectations that an economic slowdown will drive rate cuts. The dollar index , which measures the currency against a basket of peers, stood at 104.17, not far from Tuesday's two-month low of 103.98. Interest rate futures swung to price in an interest rate cut by the U.S. Federal Reserve as early as May, with a 30% chance it could come even sooner, in March.

Persons: May MILAN, Carlo Franchini, Naka, Russell, Joe Biden, Xi Jinping, Sterling, Danilo Masoni, Tom Westbrook, Alex Richardson Organizations: REUTERS, Staff, Bank of England, Banca Ifigest, National Statistics, CPI, Nasdaq, U.S . Federal Reserve, Bloomberg News, Golden, HSBC, Brent, Thomson Locations: Frankfurt, Germany, United States, Europe, Asia, China, Milan, Ukraine, Italy, France, Tokyo, San Francisco, London, CHINA, Pacific, Japan, Hong Kong, Beijing, Shanghai, Singapore

☆ Morning Bid: Inflation on the ropes, shutdown averted
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Much like then, the sheer scale of the yield swoon has stoked bond volatility gauges (.MOVE) too. What's more, a quarter point rate cut by May is now 80% priced and 100bps of easing through 2024 is now baked in. U.S. corporate news stays on retail later as Target reports earnings, following a beat by Home Depot on Tuesday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Xi Jinping's, Joe Biden, Russell, Austan Goolsbee, Berkshire Hathaway, Warren Buffett, Michael Barr, Thomas Barkin, Jonathan Haskel, Xi Jinping, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Wall, Chicago Fed, Bank of America, Home Depot, Berkshire, General Motors, Procter, Gamble, Richmond Fed, Bank of England, APEC, Cisco Systems, Palo Alto Networks, Reuters, NFIB, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Wall, UK's, York, San Francisco

☆ Ping An loses $2.1 billion in market value, China property rallies on Country Garden rescue report
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Company logo of Ping An Insurance Group is shown at a news conference following the company's announcement of its annual results in Hong Kong, China March 16, 2016. Ping An's Hong Kong-listed shares tumbled 5.4%, their sharpest daily fall in more than a year, wiping out almost $2.1 billion in market capitalisation. "Such a move should mitigate or control the risks in the market," said Lu Wenxi, analyst at property agency Centaline. "This move is a big boost to market confidence, because now the whole real estate market, especially some major real estate enterprises are under pretty big pressure, and their bankruptcy risks triggering a chain reaction." Reporting by Anne Marie Roantree in Hong Kong.

Persons: Bobby Yip, Ping, Lu Wenxi, Anne Marie Roantree, Tom Westbrook, Edmund Klamann, Kim Coghill Organizations: Ping An Insurance, REUTERS, Ping, Ping An Insurance Group, Reuters, HK, Ping An, China, Sunac China Holdings, Wanda, Thomson Locations: Hong Kong, China, HONG KONG, Singapore

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. Non-payment would trigger cross defaults in other Country Garden bonds as is standard in bond contracts. Country Garden reiterated on Wednesday that it expects to be unable to meet all of its offshore debt obligations and hopes to seek a "holistic" solution to its difficulties. Shares in Country Garden have lost some 70% of their value this year but gained some ground on Wednesday, rising 2.7%. "I think Country Garden offshore US dollar bond pricing speaks for itself as to the current expectations," said Real Estate Foresight co-founder Robert Ciemniak who publishes on Smartkarma.

Persons: Tingshu Wang, Cedric Rimaud, Garden's, China Evergrande, Robert Ciemniak, Clare Jim, Xie Yu, Scott Murdoch, Anne Marie Roantree, Edwina Gibbs Organizations: REUTERS, HK, Foresight, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, U.S, Hang, Hong Kong

[1/2] A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsHONG KONG, Oct 18 (Reuters) - The grace period for Chinese property developer Country Garden Holding's (2007.HK) $15 million coupon payment has expired with no word that the money has been paid. Country Garden did not immediately respond to a request for comment. Country Garden has also missed other offshore payments in the past few weeks, though those payments still have not seen their 30-day grace periods lapse. A default would open the way for Country Garden's offshore creditors to begin negotiations with the firm's financial advisors.

Persons: Tingshu Wang, Clare Jim, Scott Murdoch, Xie Yu, Sonali Paul, Edwina Gibbs Organizations: REUTERS, HK, Data, JPMorgan, Mainland Properties, Thomson Locations: Beijing, China, HONG KONG, China's, Hang, Hong Kong, Sydney

☆ Asia stocks rise on earnings hopes; keep wary eye on Mideast tensions
▼ + stars: | 2023-10-17 | by ( Selena Li | ) www.reuters.com time to read: +3 min

A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023. Overnight the S&P 500 (.SPX) had climbed 1%, while oil prices and the U.S. dollar had fallen. Benchmark 10-year Treasury yields are about 15 basis points off 16-year highs, though they crept higher in Asia trade Tuesday to 4.7331%. The euro traded at $1.0549 and the yen hovered just short of the 150-per-dollar mark at 149.53. If investors don't receive the coupon payment, all of Country Garden's offshore debts will be deemed in default.

Persons: Kim Kyung, Kerry Craig, Goldman Sachs, Morgan Stanley, Johnson, Craig, Joe Biden, Israel, Israel's shekel, Bitcoin, Selena Li, Shri Navaratnam Organizations: Nikkei, REUTERS, Tokyo's Nikkei, U.S ., Morgan Asset Management, Bank of America, Johnson, Netflix, Federal Reserve, Israel, Hamas, Iran's, HK, Brent, BlackRock, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, Gaza, Iran, Zealand, Brent

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden, which missed two dollar interest payments last month, has two coupons totalling $66.8 million coming due on Monday. Country Garden has $10.96 billion offshore bonds and 42.4 billion yuan ($5.81 billion) worth of loans not denominated in yuan. "Until then, the base case is that China Evergrande Group will be liquidated at the next winding up hearing on October 30, 2023." Shares in Country Garden fell more than 6% on Monday, while Evergrande Group shares tumbled 11%, compared to a 1.9% fall in the Hang Seng Mainland Properties Index (.HSMPI).

Persons: Aly, Cailianshe, Evergrande, Clare Jim, Scott Murdoch, Lincoln Organizations: Shanghai Country Garden, REUTERS, HK, China Evergrande, . Media, Reuters, UBS, China Index Academy, Garden, Evergrande Group, Mainland Properties, Energy Vehicle Group, U.S, Thomson Locations: Shanghai, China, HONG KONG, BEIJING, Beijing, Hang, Hong Kong, Sydney

☆ Morning Bid: Treasury yields march on
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Long-term Treasury yields, traditionally subdued in Asian hours, spiked to a fresh 16-year peak , keeping the dollar close to multi-month tops to G-3 rivals the euro, pound sterling and yen. Reuters GraphicsAngst over tighter financial conditions pulled down Asia Pacific stocks as well, overshadowing Wall Street's overnight rally and sounding a warning for European equities. Investor jitters were evident in the underperformance of the Hang Seng's property index (.HSMPI), down a resounding 1.9%. Moody's has upped the stakes with a stern warning that potentially puts the country's last triple-A rating on the line. It comes as the U.S. budget deficit continues to widen on higher spending and falling tax receipts.

Persons: Jonathan Ernst, Kevin Buckland, Hong, Moody's, Philip Lane, Riksbank's Per Jansson, Jacqueline Wong Organizations: . Federal, REUTERS, Reuters, Asia, Japan's Nikkei, fester, Bloomberg, U.S, Treasury, Thomson Locations: Washington, Asia Pacific

☆ Evergrande's debt revamp roadblock hits China property investors' sentiment
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

China Evergrande Group's logo is seen on its headquarters in Shenzhen, Guangdong province, China, Sept. 26, 2021. "Its debt restructuring plan is now stuck and can't go any further," said Steven Leung, sales director at UOB Kay Hian in Hong Kong. Evergrande's offshore debt restructuring involves a total of $31.7 billion, which includes bonds, collateral and repurchase obligations, potentially making it one of the world's biggest such exercises. "Concern over the financial health (of developers) still clouds the property sector, especially those smaller property developers with high gearing but very few property projects on hand," Leung said. The latest roadblock in Evergrande's debt restructuring plan opens a new front for the developer just a week after police detained some staff at its wealth management unit, sending its shares slumping.

Persons: Aly, Group's, Hengda, Hong, Steven Leung, UOB Kay Hian, Leung, Evergrande, Donny Kwok, Anne Marie Roantree, Sumeet Chatterjee, Lincoln, Sam Holmes Organizations: REUTERS, HK, Hengda, Estate Group Co, China Oceanwide Holdings, National Bureau of Statistics, Thomson Locations: China, Shenzhen, Guangdong province, HONG KONG, firming, Seng, Hong Kong, Bermuda

☆ 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

☆ Morning Bid: No calm before the central bank storm
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin BucklandEurope yet again wakes up to a swathe of red in Asian markets on Tuesday. Japanese markets were closed on Monday for a national holiday, so are only now catching up on the TSMC news. Trading was volatile, with Hong Kong's property share subindex (.HSMPI), for example, swinging from an early 1.7% loss to be slightly up by lunchtime. Reuters Graphics Reuters GraphicsThursday is packed, with the Bank of England, Swiss National Bank, Riksbank, and Norges Bank. Certainly FX and rates markets are taking notice of the calendar, with the dollar and Treasury yields content to trade in tight ranges just below recent highs.

Persons: Kevin Buckland, Hong, Sunac, Kazuo Ueda's, Shri Navaratnam Organizations: Nikkei, HK, Sunac China Holdings, Reuters Graphics Reuters, Bank of England, Swiss National Bank, Riksbank, Norges Bank, of Japan, Yomiuri, Treasury, Thomson Locations: Kevin Buckland Europe

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Country Garden secures bondholder reprieve, sources say; shares soar
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +3 min

Country Garden did not immediately reply to a request for comment. The latest voting came after Country Garden on Sept. 1 gained approval from creditors to extend payments by three years for a 3.9 billion yuan ($533 million)onshore private bond. Country Garden, one of the few large Chinese developers that has not defaulted on debt obligations, has faced liquidity pressure with reduced available funds as sales plunged, its interim financial statements showed. It has 108.7 billion yuan ($14.9 billion) of debts due within 12 months, while its cash level are around 101.1 billion yuan as of end-June, according to the company's interim financial statement. Any default by Country Garden would exacerbate the country's spiralling real estate crisis, put more strain on its struggling banks and could delay the recovery of not only the property market, but the overall Chinese economy.

Persons: Shuyan Wang, Jing Bian, Xie Yu, Muralikumar Anantharaman, Jamie Freed Organizations: HK, Mainland Properties, Thomson Locations: SHANGHAI, BEIJING, Hong Kong, Beijing, Shanghai

☆ Morning Bid: China developers catch break, BOJ hawks take flight
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 8, 2023. The drama isn't over: Sources say the extension applies to six of eight bonds under discussion, with voting delayed on the other two. The embattled developer has already dodged default twice this month, winning a three-year extension on offshore bond payments and making a last-minute coupon payment. Traders certainly lean toward a quarter-point hike next week, putting the probability at about 80%. But they're split on the chances of another, laying just north of 50/50 odds of one by March.

Persons: Kevin Buckland, Kazuo Ueda's, rumblings, BOE, Catherine Mann, it's, Sam Holmes Organizations: REUTERS, Staff, HK, Bank of Japan, Bank of England, Federal Reserve, ECB, Fed, Traders, Spain CPI, Thomson Locations: Frankfurt, Germany, Asia, Spain

☆ Asian stocks steady, Japan, China central banks interrupt dollar's ascent
▼ + stars: | 2023-09-12 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Japanese government bonds remained under pressure on Tuesday, with 10-year JGB yields up 1 basis point to a fresh high of 0.71%. Japan's Nikkei (.N225) rose 0.61%, with markets looking to U.S. inflation data and this week's European Central Bank meeting to set interest rate expectations and the mood. Overnight, the weaker dollar and upgrade on Tesla from analysts at Morgan Stanley helped U.S. stock markets gain. "There is a sense that ECB is already done for the cycle," said Maybank analysts in a note to clients. "Recent PMI prints suggest that growth outlook could be deteriorating and puts the euro at risk of further downside.

Persons: Kazuo Ueda, Chris Weston, Matt Simpson, Christopher Wong, Morgan Stanley, bitcoin, Lincoln, Simon Cameron, MOore Organizations: Federal Reserve, Bank of Japan, Reuters, Investors, HK, Mainland Properties, Japan's Nikkei, Central Bank, Arm Holdings, New Zealand, ECB, PMI, Fed, Brent, Thomson Locations: SINGAPORE, China, Japan, Melbourne, Hang, Asia, Pacific, British, New York

☆ Asia stock markets weaken amid ongoing retreat from Chinese property sector
▼ + stars: | 2023-09-11 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +5 min

A man walks past an electronic board showing Japan's Nikkei average and stock prices outside a brokerage, in Tokyo, Japan, March 17, 2023. Australian shares (.AXJO) reversed earlier losses to be up 0.12% and Japan's Nikkei stock index (.N225) slid 0.19%. The Hang Seng Property Index (.HSNP), a gauge of Hong Kong's top developers, shed almost 4% while the mainland property index (.HSMPI) was off 3.24%. "We need the property market to stabilize first in order for any meaningful kind of economic rebound to happen in China," said David Chao, Invesco's Asia Pacific market strategist. Those should put a floor under the property market some time soon."

Persons: Androniki, David Chao, Daniel Zhang, Brent, Scott Murdoch, Edwina Gibbs, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Rights, Alibaba, HK, Index, Chevron, Thomson Locations: Tokyo, Japan, Asia, China, Pacific, Hong Kong, Asia Pacific, Beijing, Shanghai, Shenzhen, United States, Wells, Australia, Sydney

Country Garden also offered on Tuesday to extend repayment of eight onshore bonds worth 10.8 billion yuan ($1.48 billion) by three years, according to people with knowledge of the matter and documents seen by Reuters. Country Garden did not respond to a request for comment. A general view of a construction site of residential buildings by Chinese developer Country Garden in Tianjin, China August 18, 2023. Country Garden has not missed a debt payment obligation, onshore or offshore. "The three-year extension of maturity offered by Country Garden looks better than restructuring plans by most of the other troubled developers," Meng said.

Persons: Gary Ng, Tingshu Wang, Susannah Streeter, Hargreaves Lansdown, DODGE, CreditSights, Ting Meng, Meng, Xie Yu, Shuyan Wang, Jason Xue, Sumeet Chatterjee, Christopher Cushing, Kim Coghill Organizations: HK, Reuters, Country, Natixis Asia Pacific, REUTERS, Services, Global, Hargreaves, Mainland Properties, CSI, ANZ, Thomson Locations: HONG KONG, BEIJING, Tianjin, China, Hong Kong, Beijing, Shanghai, Bengaluru

☆ Country Garden set to open up 5.6% after deal to extend onshore bond payment
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

A construction site of residential buildings by Chinese developer Country Garden is pictured in Tianjin, China August 18, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSept 4 (Reuters) - Shares of Country Garden Holdings Co Ltd (2007.HK) were set to open up 5.6% on Monday after the embattled Chinese developer won approval from its creditors to extend payments for an onshore private bond. The stock was set to open at HK$0.94. That compared to a 1.1% rise in the benchmark Hang Seng Index (.HSI) and a 3.6% jump in Hang Seng Mainland Properties Index (.HSMPI). Reporting by Donny Kwok; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Donny Kwok, Kim Coghill Organizations: REUTERS, Garden Holdings Co, HK, Hang Seng Mainland Properties, Thomson Locations: Tianjin, China, Hang Seng

Below are five charts showing what's been moved and/or shaken:1/SHOCK FOR THE STOCKSMSCI's 24-country emerging markets (EM) stocks index (.MSCIEF) is down 6% this month. It is still up for the year, though well below the 13.5% gain this year for MSCI's main global index, which has benefited from a boom in U.S. "mega-cap" stocks. "The markets that have underperformed are the lower-yielding markets like Asia," Mike Arno, a portfolio manager at Brandywine Global, said. "The market doesn't seem to think that China is a major threat," said Aegon Asset Management's head of EM debt, Jeff Grills. Reuters Graphics5/OUT OF AFRICAThe other big trouble spot has been Africa, where debt markets have seen a sharp pullback.

Persons: Jason Lee, what's, Tayyip Erdogan's, Katherine Marney, Mike Arno, Jeff, Erdogan, Van Eck's, Eric Fine, Viktor Szabo, Szabo, Marc Jones, Rodrigo Campos, Alex Richardson Organizations: REUTERS, Reuters, JPMorgan, Brandywine, FX, HK, EMBI, abrdn, Thomson Locations: Beijing, China, Africa, MIWD00000PUS, Hungary, America, Brazil, Argentina, Asia, TURKEY, Gabon, Niger, JPMorgan's Africa, London, New York

☆ Bond rout keeps stocks under water, China woes give dollar a lift
▼ + stars: | 2023-08-18 | by ( Huw Jones | ) www.reuters.com time to read: +6 min

Crude oil was set to snap a seven-week winning streak as China's slowing economic growth clouded the picture for demand. Jason Da Silva, director, global investment strategy at Arbuthnot Latham, said stock markets were paying the price for bond yields soaring as economic data from the United States smash expectations, despite all the rate hikes so far. Euro zone government bond yields also eased on Friday as concerns about the global economy nudged investors into safe-haven government bonds and further signs emerged that euro zone inflation has peaked. The U.S. dollar recovered from an earlier dip and was standing tall near a two-month top at 103.42 against its major peers. Brent crude futures eased 0.5% to $83.67 and U.S. West Texas Intermediate crude futures were off 0.4% at $79.99.

Persons: Toby Melville, bitcoin, Thursday's, Jason Da Silva, Arbuthnot Latham, Da Silva, Jerome Powell, HSI, China Evergrande, Toby Chopra, Mark Potter Organizations: London Stock Exchange, REUTERS, Companies, Jackson, Global, Nasdaq, ING, Treasury, Federal Reserve, CHINA SHADOW, HK, Japan's Nikkei, Bank of, U.S, Brent, . West Texas, Thomson Locations: Canary Wharf, London, Britain, Japan, U.S, China, United States, Jackson Hole , Wyoming, CHINA, Asia, Pacific, Hong Kong, Beijing, Bank of Japan

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