Search

China Developer Selloff Deepens as Shimao Deal Raises 'Red Flag' - Bloomberg

Chinese property stocks plunged for a third day, heading for the lowest level since early 2017, after a deal between units of Shimao Group Holdings Ltd. heightened governance concerns in an industry already grappling with a liquidity squeeze.

Shares of Shimao Group and its property-services unit were among the biggest losers in Hong Kong trading on Tuesday as a Bloomberg index of property stocks sank 4.1%. JPMorgan Chase & Co. analysts said a connected-party acquisition announced by the developer late Monday “not only implies tight liquidity conditions for Shimao, but is also a corporate governance red flag.” 

Adblock test (Why?)

Article From & Read More ( China Developer Selloff Deepens as Shimao Deal Raises 'Red Flag' - Bloomberg )
https://ift.tt/3ESJr1a
Business

Bagikan Berita Ini

0 Response to "China Developer Selloff Deepens as Shimao Deal Raises 'Red Flag' - Bloomberg"

Post a Comment

Powered by Blogger.