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
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Sinic Holdings (Group) Company Limited
  6. News
  7. Summary
    2103   KYG8196J1085

SINIC HOLDINGS (GROUP) COMPANY LIMITED

(2103)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sinic : REFILE-EMERGING MARKETS-Stocks stage tentative comeback, currencies gain ahead of Fed

09/21/2021 | 04:23am EDT

(Corrects typographical error in first paragraph)

* HK shares erase session losses to trade 0.6% higher

* Evergrande down 3%, Sinic plunges 87% after S&P downgrade

* MSCI EM stocks index flat as HK tech down

* EM FX firms; S.African rand snaps 5-day losing streak

Sept 21 (Reuters) - Emerging market stocks edged up on Tuesday after a painful start to the week on fears that cash-strapped Chinese developer Evergrande's debt crisis would affect the broader economy.

Hong Kong's main index erased session losses to trade 0.6% higher, while most other Asian bourses along with Turkey , Russia, South Africa and Poland notched modest gains.

But fears of a meltdown at China Evergrande, which has $305 billion in debt, kept appetite for riskier assets in check. Heavyweight Hong Kong technology stocks fell, keeping an index of EM equities flat.

While markets contemplate the scale of impact for the rest of China's property sector and growth as a whole, a complicating factor is the opaque nature of the country's policymaking, said Jim Barrineau, head of EM debt strategy at Schroder Investment Management.

Shares of another Chinese developer, Sinic Holdings , plummeted 87% on Tuesday after ratings agency S&P downgraded it, citing failure to communicate a clear plan to repay its $246 million bonds due next month.

"Implications are... more impactful for the Asia-heavy EM equity complex rather than EM debt, aside from China property debt and potentially the Chinese currency, which could weaken from here," he said, adding that effects on other high yield dollar debt will likely be temporary.

With mainland markets closed for a holiday, the offshore Chinese yuan traded marginally higher after three days of losses. The onshore yuan is up almost 1% for the year versus a 0.4% rise in the broader EM currencies index .

With the U.S. Federal Reserve's policy decision just a day away, investors awaited clues on a stimulus tapering timeline. The market may be anticipating and fearing an announcement for tapering to commence in November, Barrineau said.

"If the Fed does make that announcement, we would expect Chair (Jerome) Powell to take pains to separate tapering from any potential rate hike in order to avoid exacerbating market tensions."

This will be followed by central bank decisions in Turkey and South Africa. Both banks are expected to hold rates, according Reuters polls. Turkey's central bank chief recently struck a dovish tone despite surging inflation, as political pressure to cut rates rises.

As the dollar weakened, the Turkish lira lifted off July lows, while the South African rand snapped a five-day losing streak which saw it lose more than 4%.

In Lebanon, the February 2025 dollar-bond fell while most others were steady after the country's new government won a vote of confidence on Monday.

For GRAPHIC on emerging market FX performance in 2021, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see

(Reporting by Susan Mathew in Bengaluru; Editing by Devika Syamnath)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -3.91% 2.95 End-of-day quote.-80.20%
SINIC HOLDINGS (GROUP) COMPANY LIMITED -87.01% 0.5 End-of-day quote.-87.80%
All news about SINIC HOLDINGS (GROUP) COMPANY LIMITED
10/19SINIC : S&P Cuts Chinese Property Firm Sinic's Ratings to ‘Selective Default'
MT
10/19Chinese Developer Sinic Defaults on $246 Million Bond
MT
10/13S&P Cuts Greenland, E-house Ratings on Liquidity Risks
MT
10/13SINIC : Warns of Looming Cross-Default as $250 Million Bond Nears Deadline
MT
10/12StanChart CEO Says China Won’t Allow Evergrande Woes to Turn Into Systemic Crisis
MT
10/12SINIC : Another Chinese real estate firm may default on bond payment
AQ
10/12FACTBOX : Chinese developers that missed or are set to miss offshore bond payments since S..
RE
10/12(OFFICIAL)-UPDATE 2-Evergrande misses 3rd round of bond coupon payments, intensifying c..
RE
10/11WRAPUP 3-China's bond markets slump again as new Evergrande deadline passes
RE
10/11CHINA EVERGRANDE : Chinese developer Sinic likely to default on $250 mln worth of bonds
RE
More news
Financials
Sales 2021 33 880 M 5 298 M 5 298 M
Net income 2021 2 302 M 360 M 360 M
Net Debt 2021 12 747 M 1 993 M 1 993 M
P/E ratio 2021 0,64x
Yield 2021 36,6%
Capitalization 1 482 M 230 M 232 M
EV / Sales 2021 0,42x
Capi. / Sales 2022 0,04x
Nbr of Employees 3 094
Free-Float 21,0%
Chart SINIC HOLDINGS (GROUP) COMPANY LIMITED
Duration : Period :
Sinic Holdings (Group) Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 0,42 CNY
Average target price 4,01 CNY
Spread / Average Target 866%
EPS Revisions
Managers and Directors
Yuan Lin Zhang Chairman & Chief Executive Officer
Jing Tu Executive Director & Director-Operation Management
Chi Choi Tam Independent Non-Executive Director
Po Fung Au Yeung Independent Non-Executive Director
Xin Liu Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SINIC HOLDINGS (GROUP) COMPANY LIMITED-87.80%230
VONOVIA SE-9.44%36 252
CHINA VANKE CO., LTD.-30.31%35 520
DEUTSCHE WOHNEN SE21.17%21 195
VINHOMES JOINT STOCK COMPANY14.46%15 049
VINGROUP JOINT STOCK COMPANY-4.03%14 985