– ● Tue, September 21 2021
Asian shares skidded and the dollar firmed on Monday ahead of a week packed with global central bank meetings, with a torrid session for the world’s most indebted property developer China Evergrande dragging Hong Kong stocks to a near one-year low.
Holidays in Japan, China and South Korea kept trading thin, and politics added extra uncertainty with elections in Canada and Germany bookending the week.
Shares of China Evergrande plummeted over 15 percent after earlier losing as much as 19 percent to over 11-year lows. Its listed units also fell, as investors worried about the real estate developer’s ability to repay a small portion of its US$305 billion debt due this Thursday.
Evergrande’s troubles added to growing concerns about the health of China’s economy after Beijing’s recent crackdown on tech firms had haunted the region. The Hang…
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