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Tag Archives: hong kong edges one year low

Eyes on Evergrande; Asian shares wobble , inflation worries hit confidence. Hong Kong’s edges one-year low

AgenciesTOKYO, Oct. 4 — Asian shares dipped on Monday as concerns about China’s property sector and inflation worries offset upbeat U.S. data and positive news on new drugs to fight the coronavirus.Trading in shares of debt-laden China Evergrande was suspended pending an announcement about a major transaction. That comes a few days after the distressed developer missed a key interest payment on its offshore debt obligation for the second time.Chinese media reported on Monday Evergrande will sell a half-stake in its property management unit for more than $5 billion, however, that news did little to sooth sentiment.“The biggest problem is not a default by Evergrande but the environment that has led to its downfall. Authorities are regu...

October 4, 2021 at 12:15 pm | Economic Affairs