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Chinese stocks skid as Evergrande's debt restructuring goes off the rails

Shares of Evergrande are down 20% and broader Chinese real estate stocks are down 2.5% after the embattled real estate group offered signs that its restructuring plan was failing.Evergrande Group said it "is unable to meet the qualifications for the issuance of new notes under the present circumstances" due to a regulatory probe. This comes after an announcement late last week that Evergrande was postponing a creditors' meeting scheduled for today and tomorrow. The company is trying to swap matu...
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Posted: Sep 25 2023, 02:27
Author Name: forexlive
Views: 090910