HK-listed Country Garden Services falls after Fantasia unit fails to repay loan

Colour Life Services

05/10/2021 04:24

** Shares of Country Garden Services Holdings  6098.HK  fall
4.8% to HK$58.60, the biggest daily pct decline since Sept. 20, 
and on course to snap four straight sessions of gains
    ** Property manager said on Monday Fantasia Holdings
 1777.HK  subsidiary Colour Life Services  1778.HK  failed to
repay a 700 mln yuan ($108 mln) loan due on Oct. 4 
    ** Announcement comes as the latest sign that distress is
spreading from embattled China Evergrande  3333.HK  and through
the real estate sector  urn:newsml:reuters.com:*:nL1N2R01N3
    ** Fitch had slashed Fantasia's credit rating  urn:newsml:reuters.com:*:nL8N2R036T
    ** Shares of parent firm Country Garden Holdings  2007.HK 
drop 4.9% to HK$7.62, the worst day since Sept. 20; the
second-biggest pct decliner on both the Hang Seng China
Enterprises Index  .HSCE  and the benchmark index  .HSI  
    ** Stock of smaller rival Sunac China  1918.HK  plunges
13.1% to HK$14.52, the worst session since October 2011; the
biggest percentage decliner on the Hang Seng Composite Index
tracking properties and construction stocks  .HSCIPC  
    ** The Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  falls 2.1%
    ** The Hang Seng China Enterprises Index  .HSCE  slips 0.5%
and the benchmark index  .HSI  eases 0.2%

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