[ad_1]
Concerns about the health of the Chinese real estate sector spilled over into Hong Kong markets on Monday, triggering the largest liquidation of real estate shares in more than a year and spanning everything from banks to Ping An Insurance Group Co. and high yield dollar bonds.
The Hang Seng real estate index fell 5.9%, the highest since May 2020, while Ping An Insurance, China’s largest insurer by market value, plunged 7.3% in Hong Kong. The city’s benchmark Hang Seng index fell 3.3%, its largest one-day decline in two months. Chinese dollar bonds rated as garbage lost as much as 2 cents, according to credit traders.
[ad_2]
Source link