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US News Evergrande: fault fears rise, the Hong Kong Stock Exchange drinks the

14:20  20 september  2021
14:20  20 september  2021 Source:   pressfrom.com

The organizers of the vigil for Tiananmen in Hong Kong pursued for "incentive to subversion"

 The organizers of the vigil for Tiananmen in Hong Kong pursued for © Copyright 2021, the Obs The three main managers of the organizing association The annual vigil in Hong Kong in memory of repression From Tiananmen in 1989 were continued for "incentive to subversion", a few hours after the search of a museum dedicated to this historic event.

Un complexe immobilier du groupe Evergrande, à Huaian, dans la province du Jiangsu, le 17 septembre 2021 © Str cup a real estate complex of the Evergrande group, in Huaian, in the province of Jiangsu, on September 17, 2021

the fears of a domino effect In the event of the collapse of the Chinese real estate Giant Evergrande, who faces this week at several debt repayment deadlines, led Monday making the Hong Kong Stock Exchange plunge.

Evergrande, which crumbles under a debt of more than $ 300 billion, had recognized last week facing a "huge pressure" and warned that it might not be able to deal with its financial commitments. However, he must pay interest on some of his loans this week, with deadlines fixed on Monday and Thursday. The police officers franciate the protesters gathered in front of the headquarters of Evergrand in Shenzhen, September 16, 2021

Hong Kong: prison sentences for 9 activists who participated in vigils for Tiananmen

 Hong Kong: prison sentences for 9 activists who participated in vigils for Tiananmen © AP - Kin Cheung The last vigil in Hong Kong in memory of the victims of the massacre of Tiananmen Square, June 4, 2019. nine figures The Hong Kong Pro-Democracy Movement were sentenced on Wednesday, September 15th to sentences ranging from 6 to 10 months in prison for participating last year at a recovery in memory of Tiananmen prohibited by the police. Three other people have been swearing sentences for taking part in an illegal gathering or encouraging other people to participate.

a creditor quoted by the Chinese Financial Journal Caixin Global Monday estimated that there was "99.99%" of Opportunities that it is unable to pay interest due in the third quarter. Des policiers encadrent des manifestants rassemblés devant le siège d'Evergrande à Shenzhen, le 16 septembre 2021 © Peter Parks

A panel displaying the Hong Kong Scholarship Class Course, September 20, 2021 in a Hong Kong street

In the event of a lack of payment, many are concerned about the impact on other companies. real estate sector, banks and small investors. Un panneau affichant le cours de l'indice Hang Seng de la Bourse de Hong Kong, le 20 septembre 2021 dans une rue hongkongaise The course of the Evergrande action plunged 17% Monday and nearly 90% compared to the beginning of the year. And he resulted in his wake Monday several of Hong Kong's large real estate groups, including losses of more than 10% for Henderson Land or New World Development. In the end, the Hong Kong Exchange Hang Seng index fenced on a drop of 3.30%. Faced with the crisis crosses through the group, demonstrations, rare in China, have gathered in recent days in front of the premises of Evergrande investors and suppliers who demand their money.

anger has increased this weekend with the announcement that six senior executives of the group would be subject to "severe penalties" for rescinding financial products before the small investors were informed that they would not be -be not paid in time.

"Make the money": Evergrande's setbacks attract anger in China

 Most have already paid a personal contribution to settle in the apartment of their dreams. Often, construction is still not completed and no one knows if they can one day occupy it. Others have invested in the stone or are simple subcontractors or Evergrand partners. All today feel injured, like Mrs. Hu.

The group indicated that they should reimburse the money thus harvested, emphasizing the need to "guarantee equity and impartiality" between its investors.

- Need a Beijing signal -

The lack of comments from Beijing and the fact that Monday is a holiday in China only adds to uncertainty.

According to Philip Tse, from Bocom International Holdgins, "there will be new declines" lessons if the authorities do not give a clear signal on their intentions towards Evergrand or if they do not loosen the regulatory screw turn to the real estate sector.

© Christmas Celis

The construction site managed by Evergrand of the Canton Football Stadium (or Guangzhou) in Guangdong Province, September 17, 2021

last year, Beijing has taken severe measures against real estate developers to to force them to reduce their debt. It is now forbidden to pre-sell real estate before construction is completed, a system that represents an important part of the Evergrande's economic model. Le chantier géré par Evergrande du stade de football de Canton (ou Guangzhou) dans la province du Guangdong, le 17 septembre 2021 According to the experts, the group holds more than one million real estate prepaid by customers who have not yet been built, which strengthens the apprehension of Chinese investors, many of which are primo-acceders. Failure to borrow in the financial markets, and short of cash, the Group has tried to repay some of these creditors in kind, including parking spaces and unfinished properties. DAN / LEP / SOE / SPI

DAX with winning by Bundestag election .
The German stock market starts according to the election victory of the SPD in the general election with clear winning in the new Stock Exchange Week. The DAX climbed by 0.91 percent to 15,672.51 counters and the MDAX of medium-sized stock market values ​​were added by 0.79 percent to 35,560.78 points. © Fredrik of Erichsen / DPA The DAX is the most important stock index in Germany. The Eurostoxx 50 as the key index of the Eurozone posted a plus of 0.62 percent to 4184.27 meters.

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