Country Garden falls on fresh test for onshore bond extensions, rivals slip

KWG group

11/09/2023 05:53

** Shares of Country Garden Holdings  2007.HK  fall 7.5% to
HK$0.99 as the embattled Chinese property developer faces fresh
test for onshore bond extensions
    ** Stock is the sixth-biggest loser in Hang Seng Composite
Index on properties and construction stocks  .HSCIPC 
    ** Country Garden faces a new round of voting by creditors
on Monday on its proposal to extend repayments of eight onshore
bonds by three years, after having avoided default at the last
minute twice this month
    ** Voting due to conclude by 10 p.m. HK time (1400 GMT)
    ** Other Chinese property stocks slide with China Evergrande
 3333.HK , Powerlong  1238.HK , Agile  3383.HK , Guangzhou R&F
Properties  2777.HK , KWG  1813.HK  and Logan  3380.HK  fall
between 1.6% and 5.5%  
    ** Shares of Hopson Development  0754.HK , Longfor  0960.HK 
and Greentown China  3900.HK  decline 2.9% to 7%
    ** Hang Seng Mainland Properties Index  .HSMPI  drops 3.6%,
Hang Seng Composite Index  .HSCI  falls 1.2% and Hang Seng Index
 .HSI  declines 1.7%

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