Evergrande Stock : Lir88mzizyybm

Nicholas Fisher

21 Sept, 2021

Evergrandes bond and stock selloff worsened last week after Caixin Medias WeNews reported that regulators were looking into its dealings with a banking unit. Evergrande Property Services Group slumped in Hong Kong by the most since its December listing after an unidentified seller offloaded several blocks of shares as soon as a six-month lock-up period on key investors expired on Wednesday.

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Evergrande Property Services rose 6 while EV unit Evergrande New Energy Vehicle surged over 12.

Evergrande stock. On Monday Reuters reported that Evergrande had. The China Banking and Insurance Regulatory Commission is examining more than 100 billion yuan 156 billion of transactions between the developer and Shengjing Bank Co WeNews said on May 27. Shares of Hong Kong-listed Evergrande jumped as much as 88 to an almost two-week high in afternoon trade versus a gain of 01 gain in the benchmark HSI.

The stock had plunged 18 in the past month to its lowest since March 2020. Its units which were also under pressure in the past months all bounced on the news. While Evergrande and its affiliates havent defaulted on any interest or principal payments Minsheng Bank will closely monitor their business operations and financial health and act if risks occur the Beijing-based lender said in response to questions from investors on a platform run by the Shanghai Stock Exchange on Wednesday.

Concerns about Evergrandes financial health are mounting. The stock sank 13 per cent to HK978 at the close of trading on Wednesday erasing the equivalent of US19 billion from its market value. Evergrande has responded by selling assets including more than half of its stake in smaller peer Calxon for just under 400 million in an attempt to enhance its cashflow.

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