(Il Sole 24 Ore Radiocor) – Shares of Chinese real estate giant Evergrande quickly lost more than 10% on the Hong Kong Stock Exchange in the aftermath of a bond redemption that was not honored by the indebted group. Evergrande has a debt of about 260 billion euros. The group has struggled for several months to honor interest payments and deliveries. Yesterday December 29, Evergrande still had two payments on dollar bonds yet to be made. The deadline has passed with no sign that the group has repaid the $ 250 million owed. After losing more than 10% on the Hong Kong Stock Exchange in the morning, the stock then recovered and slightly contained losses (-8.4%).
Chinese indices with positive sign
Meanwhile, the Chinese stock exchanges closed today’s session on December 30 with a slight rise, with little trading, for the Chinese stock exchanges. Investors remained on the sidelines, amid persistent concerns about the spread of the Omicron variant and the possible impact on the global economy. In particular, Shanghai closed up by 0.6% to 3,619.19 points; Shenzhen closed with a gain of 0.9% to 2,517.16 points while Hong Kong’s Hang Seng Index, held back by Evergrande’s performance, gained 0.1% to 23,112.01 points.