Shimao leads Chinese property stock slump as liquidity woes linger

Ronshine China Holdings

09/11/2021 03:14

** Shares of Shimao Group Holdings  0813.HK  lead plunge
among Chinese property developers, falling 8.5% to HK$8.84, the
lowest since May 2012
    ** Stock of Shimao on course for fourth consecutive session
of losses; biggest decliner on Hang Seng Composite Index
tracking properties and construction stocks  .HSCIPC  
    ** The think tank of China's state council held a meeting
with real estate developers and banks in the southern city of
Shenzhen, a source told Reuters, amid intensifying worries over
a liquidity crisis in the country's property sector  urn:newsml:reuters.com:*:nL1N2S002C
    ** Some holders of offshore bonds issued by a unit of
developer China Evergrande Group  3333.HK  had not received
interest payments due on Nov. 6 by Monday evening in Asia, two
people familiar with the matter said  urn:newsml:reuters.com:*:nL1N2RZ03Z
    ** Stock of Guangzhou R&F Properties  2777.HK , Sino-Ocean
Group  3377.HK , Ronshine China  3301.HK , and KWG Group
 1813.HK  drop between 2.8% and 5.9% 
    ** Shares of Country Garden  2007.HK , China Resources Land
 1109.HK , Sunac  1918.HK  and China Vanke  2202.HK  fall from
2% to 2.6%; China Evergrande slips 0.9%  
    ** Hang Seng Mainland Properties Index  .HSMPI  falls 1.4%
and Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  eases 0.9%
    ** Hang Seng Composite Index  .HSCI  and the benchmark index
 .HSI  both slip 0.1%

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