Share market sentiment was largely driven by events in the US last week. Earnings reports showed that tech companies by and large were performing better than expected and along with positive economic data showed that the US is likely headed for a soft landing as opposed to a recession. Meta (Facebook) in particular announced a very strong result and a maiden dividend. The US Fed also met last week and the quick take-away was that rate rises are over but ...
$CHINA EVERGRANDE GROUP(EGRNF.US)$ China Evergrande Group has supplied funds to pay interest on a dollar bond, a person with direct knowledge of the matter said on Friday, days before a deadline that would have seen the developer plunge into formal default. Evergrande abandons plans to sell a $2.6 billion stake in the services unit to rival Hopson Development Holdings. A defaulted private bond guaranteed by Evergrande, Jumbo Fortune Bond, secures a three-month-plus extension, REDD reports. Evergrande remits funds for a dollar bond coupon that was due Sept. 23 to avoid default before the 30-day grace period expires, a source says. Many countries haven’t seen the second wave yet form the shutdown. Just wait.
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$CHINA EVERGRANDE GROUP(EGRNF.US)$was due to pay $83 million of interest on Thursday for a dollar-denominated bond that’s set to mature in March 2022. Dollar bonds are typically held by foreign investors. Even if no payment is made on Thursday, the company will not technically default unless it fails to make that payment within 30 days. The troubles of Evergrande, the world’s most indebted developer with liabilities of $300 billion, have escalated in recent weeks and roiled global markets.
Asia-Pacific stocks were mixed on Friday, with shares in Japan leading gains regionally. The Wall Street Journal reported Thursday that Chinese authorities have told local officials to prepare for a potential demise of developer$CHINA EVERGRANDE GROUP(EGRNF.US)$. Uncertainty also remains around whether Evergrande will pay the interest due Thursday on a dollar-denominated bond.
SurfingSam : 非常有用