Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

Trackinsight: China Real Estate ETF rallies on Evergrande coupon payment

09/23/2021 | 09:45am EDT

Evergrande's main unit Hengda Real Estate Group resolved a coupon payment of a domestic bond on Wednesday.

Evergrande’s main unit Hengda Real Estate Group resolved a coupon payment of a domestic bond on Wednesday, boosting its shares by 33.33% in US OTC Markets (EGRNY) and by 17.62% in today’s Honk Kong session (3333.HK). The surge in price was also driven by China’s Central bank cash injection into the banking system, calming fears of contagion from the debt-ridden real estate giant.

Global X MSCI China Real Estate ETF (CHIR), which trades on the New York Exchange gained +4.77% following the news. The ETF targets large and mid-cap Chinese companies involved the in the one the largest GDP contributing sectors in China, real estate. While Evergrande only represents 0.69% of CHIR total portfolio, the company’s health itself is vital for the prospects of other companies.

Find and compare over 7,000 ETFs with our free tools:


© www.trackinsight.com 2021
Latest news
01:13pExclusive-Turkey's state banks likely to follow central bank and slash rates on Monday -sources
RE
01:06pROSEN, A LEADING AND RANKED LAW FIRM, Encourages Nano-X Imaging Ltd. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – NNOX
GL
01:01pSAVA 2-DAY DEADLINE ALERT : Hagens Berman, National Trial Attorneys, Encourages Cassava Sciences (SAVA) Investors with $250K+ Losses to Contact Firm's Attorneys Now, Oct. 26th Deadline in Securities Class Action
GL
12:27pBANCA MONTE DEI PASCHI DI SIENA S P A : Italy, UniCredit break off talks on ailing Italian bank
AQ
12:26p'Dune' Opens to $40 Million at the Box Office. Strong Enough for a Sequel?
RE
12:19pUniCredit, Italy govt end talks over potential sale of Monte dei Paschi
RE
12:16pBANCA MONTE DEI PASCHI DI SIENA S P A : MPS talks stumbled on 2.3/3.5 bln euro valuation gap - source
RE
12:16pUnicredit had valued parts of mps business it would have bought at 1.3 bln euros, treasury estimated a fair value of 3.6-4.8 bln euros - source
RE
12:16pUnicredit's terms incompatible with treasury's goal to not undersell stake in monte dei paschi - source
RE
12:16pTreasury has deemed such adjustments in large part unjustified - source
RE
Latest news