Trump pleads not guilty and waives arraignment in Georgia election case

News

Chinese property stocks declined on Thursday after Country Garden, once the country’s largest developer by sales, reported record losses and China Vanke cancelled a share placement.

The CSI 300 Real Estate index, which tracks property stocks listed on mainland exchanges, declined 4.1 per cent in morning trading. Hong Kong’s Hang Seng Mainland Properties index declined 1.5 per cent, erasing early gains.

China’s property sector is dealing with a renewed liquidity crisis. Country Garden on Wednesday reported a $7bn dollar first-half loss, its worst ever, while China Vanke, another major developer, cancelled a share placement worth up to Rmb15bn ($2bn) and released earnings showing a 19 per cent slide in profits.

Articles You May Like

Russia halts foreign exchange trading as US sanctions sow confusion
US stocks notch weekly gain as rate cut debate heats up
Fed officials signal just one rate cut before end of 2024
Lawmakers urge new path forward for transit agencies
Apple set to be first Big Tech group to face charges under EU digital law