China's Agile drops the most in 9 months after missing interest payment

Agile group

14/05/2024 03:26

** Shares of Chinese property developer Agile Group Holdings
 3383.HK  drop 15.7% to HK$0.59, on course for the biggest
one-day pct decline since August 1
    ** Stock on track to snap three straight session of gains;
biggest pct loser on index tracking properties and construction
stocks  .HSCIPC  and Hang Seng Composite Index  .HSCI 
    ** Agile said on Tuesday it missed an interest payment for
its $483 million senior note and warned it may not be able to
fulfil all offshore debt payment obligations due to liquidity
pressure
    ** Agile said has not yet received any notice for
accelerated debt repayment from relevant creditors regarding the
2020 notes
    ** Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  slips 0.1%, while Hang Seng
Mainland Properties Index  .HSMPI  gains 1% and Hang Seng Index
 .HSI  adds 0.4%
    ** Stock down 30.6% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))