Beijing needed to act faster to stem the erosion of confidence among domestic investors after slamming their real estate dreams. The inaction when it comes to direct stimulus (ie massive spending, consumer support) is a key sticking point w investors. This isn’t about foreign money manipulating Chinese markets. It’s more about domestic (and foreign) money giving up. Capitulation by the investing public despite govt reassurances of state fund buying. Can’t rule out a sharp bounce after s...
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Mr Careful :
their strategy is to keep buying in the open market for mainland counters before cny. we will gauge its effectiveness before deciding whether to move out. anyway, sitting on a good profit buffer.
Both supply and demand for new homes experienced a significant drop of over 40% compared to the previous month. When compared to the same period in previous years since 2019, the market remained at a low level. In the 30 key cities, the supply decreased by 47% m/m but still increased by 16% y/y. Transaction volumes also fell both m/m and y...
$Lion-OCBC Sec HSTECH S(HST.SG)$ Property shares were heavily sold following news that major Chinese shadow bank Zhongzhi Enterprise Group, a major lender to real estate developers, filed for bankruptcy in Beijing. Meanwhile, troubled developer China Evergrande's electric vehicle company said its vice chairman had been detained on suspicion of unspecified "crimes."
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Cui Nyonya Kueh :
tomorrow rebound I hope. or maybe still drop ..
Hong Kong court gives Evergrande five week extension to avoid liquidation after failed restructuring plan. Company must come up with "concrete" revised plan by December 4th or face liquidation. $300B+ in liabilities, defaulted in 2021. Company in talks with bondholders on new restructuring plan. Share prices fell 7%, previous plan included swapping bonds for equity and bonds of subsidiaries. Winding up would send shockwa...
1. Chinese securities regulators broaden the scope of REITs to allow companies to raise more money. The China Securities Regulatory Commission (CSRC) will, for the first time, allow commercial real estate developers and managers to spin off their “consumption-related infrastructure assets” into a public real estate investment trust (REIT). These assets include shopping malls and department stores, which are considered mature assets...
Mr Careful : their strategy is to keep buying in the open market for mainland counters before cny. we will gauge its effectiveness before deciding whether to move out. anyway, sitting on a good profit buffer.