{"id":380794,"date":"2021-12-14T10:49:00","date_gmt":"2021-12-14T07:49:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount\/"},"modified":"2021-12-14T10:49:00","modified_gmt":"2021-12-14T07:49:00","slug":"dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount\/","title":{"rendered":"#Dow Jones Newswires: Chinese developers fall as debt worries mount"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6aef2184372e9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6aef2184372e9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount\/#Yongchang_Chin\" >Yongchang Chin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount\/#and\" >and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-jones-newswires-chinese-developers-fall-as-debt-worries-mount\/#Clarence_Leong\" >Clarence Leong<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Dow Jones <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a>wires: Chinese developers fall as debt worries mount<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\" role=\"region\" aria-label=\"article body\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20211214-701162\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Shares in Chinese developers fell sharply in Hong Kong as investors weighed news of bond trading halts and concerns mounted that another company in the debt-laden sector could seek repayment extensions.<\/p>\n<p> Shimao Group Holdings Ltd.<br \/>\n        813,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208719072\/delayed\" class=\"negative\">-19.92%<\/bg-quote><br \/>\n       led the declines, falling 15% in afternoon trading to extend three-day losses to 29%. China\u2019s most indebted developer, China Evergrande Group<br \/>\n        3333,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208605330\/delayed\" class=\"negative\">-6.98%<\/bg-quote><span>,<\/span><br \/>\n       slid 8.1%, while Agile Group Holdings Ltd.<br \/>\n        3383,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210448079\/delayed\" class=\"negative\">-11.25%<\/bg-quote><br \/>\n       fell 9.1%.<\/p>\n<div class=\"paywall\">\n       China Aoyuan Group Ltd.<br \/>\n        3883,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210450283\/delayed\" class=\"negative\">-9.25%<\/bg-quote><br \/>\n       dropped 8.7% after a creditor, China Shandong Hi-Speed Financial Group Ltd., said the group had defaulted on a US$100 million bond.<\/p>\n<p>The Hang Seng Mainland Properties Index , which tracks property developers and services companies, fell 7.0%, on course for its lowest close since late September.<\/p>\n<p>Shimao was hit particularly hard by the downturn. Trading in three of the group\u2019s onshore bonds was halted when prices slumped more than 20%, according to data provider Wind. A day earlier, trading in eight of its onshore bonds was temporarily halted due to volatility, according to notices on the Shanghai stock exchange, where the bonds are listed.<\/p>\n<p>Data provider LevFin Insights in a newsletter highlighted talk among investors that Shimao is speaking with creditors about extending maturities \u201con certain domestic trust products and loans.\u201d Shimao hasn\u2019t commented on the matter.<\/p>\n<p>To some analysts, the selloffs look overdone given the lack of clear information.<\/p>\n<p>\u201cThere is no clear newsflow that Shimao is facing an imminent liquidity crunch, and the company has responded that it\u2019s looking into market rumors\u201d that it blamed for Monday\u2019s selloff of bonds, CMC Markets analyst Kelvin Wong said.<\/p>\n<p>Property services companies also slumped in Tuesday trading in the wake of a deal that Shimao\u2019s property management arm struck with its parent.<\/p>\n<p>Shimao Services Holdings Ltd. plunged more than 30% to a record low after saying late Monday that it will acquire a property-management services business from its parent for a consideration of 1.65 billion yuan ($259.1 million), 95% of which will be paid within 20 business days. The deal is likely to heighten concerns about the group\u2019s liquidity.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>\u201cInvestor jitters that caused the sell-down in Shimao Services may not abate so soon,\u201d brokerage CGS-CIMB said in a research note.<\/p>\n<p>Other property services peers also dropped, with Evergrande Property Services Group shedding 13% and Sunac Services Holdings Ltd. falling 17%.<\/p>\n<p>The sector\u2019s recent slump comes as more developers head toward defaults. Last week, Fitch Ratings said that Evergrande and another big developer, Kaisa Group Holdings Ltd., had defaulted on debt following missed U.S. dollar bond payments.<\/p>\n<p>Write to Yongchang Chin at yongchang.chin@wsj.com and Clarence Leong at clarence.leong@wsj.com<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Yongchang Chin\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Yongchang_Chin\"><\/span>Yongchang Chin<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"and\"><\/span> and <span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Clarence Leong\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Clarence_Leong\"><\/span>Clarence Leong<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C0C4D5-7425-4434-F126-1CA45D26AAB1%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Dow Jones Newswires: Chinese developers fall as debt worries mount&#8221; Shares in Chinese developers fell sharply in Hong Kong as investors weighed news of bond trading halts and concerns mounted that another company in the debt-laden sector could seek repayment extensions. Shimao Group Holdings Ltd. 813, -19.92% led the declines, falling 15% in afternoon trading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":380796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-403861\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-380794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=380794"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/380794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/380796"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=380794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=380794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=380794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}