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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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China Evergrande : Financials weigh down China shares, tech slump hits Hang Seng

07/19/2021 | 12:58am EDT

* Shanghai Composite -0.31%, CSI300 -0.19%

* Hang Seng down 1.59% as tech shares slump

* Evergrande shares plummet after court freezes unit's deposits

SHANGHAI, July 19 (Reuters) - China's main stock indexes fell on Monday, weighed down by financials, while Hong Kong's benchmark Hang Seng index slipped on pressure from Chinese tech giants as Beijing continues its regulatory clampdown on monopolistic practices.

** At the midday break, the Shanghai Composite index was down 0.31% at 3,528.16 points. ** China's blue-chip CSI300 index was down 0.19%, with its financial sector sub-index lower 0.97%, the consumer staples sector down 0.36% and the real estate index down 2.21%. ** Chinese H-shares listed in Hong Kong fell 1.66% to 9,984.08, while the Hang Seng Index was down 1.59% at 27,558.42. ** The Hang Seng Tech index fell 2.07%, weighed down by a 2.67% drop in Alibaba Group Holding Ltd and a 2.39% drop in Tencent Holdings Ltd. ** A Shanghai court on the weekend posted a list of "typical unfair competition cases" involving companies including Tencent, Baidu, and Alibaba's Alipay on its official WeChat account. ** Property developer Evergrande sees share plummet 7.14% after an adverse court ruling came to light, freezing deposits of Evergrande and its unit Yixing Hengyu Real Estate Co Ltd ** The smaller Shenzhen index was down 0.17%, the start-up board ChiNext Composite index was higher by 0.41% and Shanghai's tech-focused STAR50 index was down 0.69%. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 1.18% while Japan's Nikkei index was down 1.42%. ** The yuan was quoted at 6.479 per U.S. dollar, 0.01% weaker than the previous close of 6.4786. ** So far this year, the Shanghai stock index is up 1.6% and the CSI300 has fallen 2.4%, while China's H-share index listed in Hong Kong is down 7%. Shanghai stocks have declined 1.76% this month. (Reporting by Andrew Galbraith; Editing by Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -0.44% 2.27 End-of-day quote.-84.77%
TENCENT HOLDINGS LIMITED -0.92% 450 End-of-day quote.-20.21%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 547 B 70 283 M 70 283 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 353 B 45 396 M 45 396 M
P/E ratio 2021 12,4x
Yield 2021 1,67%
Capitalization 29 967 M 3 848 M 3 849 M
EV / Sales 2021 0,70x
EV / Sales 2022 0,45x
Nbr of Employees 163 119
Free-Float 15,3%
Chart CHINA EVERGRANDE GROUP
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Technical analysis trends CHINA EVERGRANDE GROUP
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Last Close Price 2,27 HKD
Average target price 11,18 HKD
Spread / Average Target 392%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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