HK shares of China Vanke hit record low on liquidity concern

CIFI Holdings (Group)

05/03/2024 03:23

(Update stock price, add rivals share moves)
    ** Hong Kong shares of China Vanke  2202.HK  drop 4.1% to
record low of HK$5.37; on course for seventh straight session of
decline
    ** Shenzhen-listed stock  000002.SZ  falls 2.4% to 9.20
yuan, lowest since Feb. 6
    ** Investors sold China Vanke stock and bonds on Monday,
picking up from last week as concern over liquidity at the
nation's No.2 property developer by sales trumped fundraising
plans and assurance from a business partner
    ** In contrast to Vanke shares, China's blue-chip CSI 300
Index  .CSI300  climbs 0.5%, Shanghai Composite Index  .SSEC 
adds 0.2% 
        ** China will refine real estate policies and meet
justified financing demand for real estate enterprises under
various forms of ownership on an equal basis in 2024, according
to 
    an official work report
     seen by Reuters on Tuesday
  
    ** CSI 300 Real Estate Index  .CSI000952  falls 1.2%, Hang
Seng Mainland Properties Index  .HSMPI  drops 2.9% and Hang Seng
Index  .HSI  falls 2.2%
    ** Rival developers also decline, with Country Garden
 2007.HK , China South City  1668.HK , Shimao Group  0813.HK 
and CIFI Holdings  0884.HK  down between 5.1% and 8.2% 
    ** YTD Vanke's Hong Kong-listed stock down 25.5%, Shenzhen
shares down 11.5%

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