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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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S.Korean stocks end lower on Evergrande, China power shortage worries

09/28/2021 | 03:05am EDT

* KOSPI falls, foreigners net buyers

* KRW weakens to over one-year low vs USD

* South Korea benchmark bond yield rises

* For the midday report, please click

SEOUL, Sept 28 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares closed lower on Tuesday, in line with broader Asian markets on lingering fears over the fate of China Evergrande Group and worries about the potential impact of a widening power shortage in China. The won weakened to a one-year low, while the benchmark bond yield rose.

** The KOSPI closed down 35.72 points, or 1.14%, at 3,097.92.

** Chip giants led the decline on the benchmark index, with Samsung Electronics and SK Hynix falling 1.80% and 0.96%, respectively. Naver and Kakao dropped 2.61% and 2.08%, respectively.

** Without making a reference to ailing developer Evergrande , China's central bank vowed to protect consumers exposed to the housing market on Monday and injected more cash into the banking system.

** Widening power shortages in China, meanwhile, halted production at a number of factories including suppliers to Apple Inc and Tesla Inc and are expected to hit the country's manufacturing sector and associated supply chains.

** Further denting risk appetite were soaring U.S. Treasury yields that touched a three-month high overnight following the Federal Reserve's signals last week that bond purchases could be tapered as early as November.

** Foreigners were net buyers of 10.7 billion won ($9.07 million) worth of shares on the main board.

** The won ended at 1,184.4 per dollar on the onshore settlement platform, 0.64% lower than its previous close and marking the lowest close since mid-September last year.

** In offshore trading, the won was quoted at 1,184.2 per dollar, down 0.5% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,185.1.

** In money and debt markets, December futures on three-year treasury bonds fell 0.16 point to 109.35.

** The benchmark 10-year yield soared by 8.2 basis points to 2.249%. (Reporting by Joori Roh; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.53% 148.69 Delayed Quote.12.06%
CHINA EVERGRANDE GROUP 4.26% 2.69 End-of-day quote.-81.95%
KAKAO CORP. -0.39% 127500 End-of-day quote.63.67%
NAVER CORPORATION -0.73% 407500 End-of-day quote.39.32%
SAMSUNG ELECTRONICS CO., LTD. 0.28% 70400 End-of-day quote.-13.09%
SK HYNIX INC. 2.28% 98500 End-of-day quote.-16.88%
TESLA, INC. 1.75% 909.68 Delayed Quote.28.91%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 547 B 70 415 M 70 415 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 488 M 45 488 M
P/E ratio 2021 14,7x
Yield 2021 1,41%
Capitalization 35 511 M 4 568 M 4 569 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
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Technical analysis trends CHINA EVERGRANDE GROUP
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,69 HKD
Average target price 11,13 HKD
Spread / Average Target 314%
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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