announced that after the suspension of 11 companies in China, the stock price of Chinese real estate giant Country Garden fell to a record low on Monday (August 14), and its offshore bonds were also undergoing deepening debt issues.
Comprehensive Bloomberg report and Sina Finance data, the stocks listed by Country Garden in Hong Kong fell more than 16%on Monday morning to HK $ 0.82 (about S $ 0.14), a record low.According to statistics, Country Garden's stock price has fallen by nearly 50%so far this month.
The stock price of Country Garden has plummeted, and it has also dragged down the real estate index of Hang Seng China's real estate index fell by 4.6%.The rest of the Chinese real estate stocks listed in Hong Kong also fell sharply. Among them, R & F Real Estate and China Jinmao fell more than 8%, and Jiazhaoye Group fell more than 6%.
In addition, the price of the offshore bonds of Country Garden also decreased, and some bonds were sold at a low price of about 6 cents (about S $ 8).For example, a bond expired in January 2031, the trading price of Monday morning was only 6.071 cents.
Bloomberg reported that Country Garden was once considered a real estate developer with a relatively stable financial situation, and its dilemma today may bring a cicada effect to buyers and financial institutions, further inhibit the industry and the industry and the industry and the industry.The short -term recovery prospect of the overall economy has exacerbated market concerns.
As one of the core pillars of the Chinese economy, the real estate industry has experienced decline in sales, liquidity tensions, and a series of developers' breach of contract since the end of 2021, which seriously dragged down the overall economy.
