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USD/CNY Misses 6.8, New Low since Sep 2020; CN Developers, Property Managers in Sell-off
USD/CNH once missed the 6.8 mark and bottomed at 6.8050, hitting a new low since September 2020. USD/CNH last stood at 6.7996, down over 400 bps.Chinese homebuilders and property m...
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USD/CNY Misses 6.8, New Low since Sep 2020; CN Developers, Property Managers in Sell-off
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2022/05/12 13:32
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USD/CNH once missed the 6.8 mark and bottomed at 6.8050, hitting a new low since September 2020. USD/CNH last stood at 6.7996, down over 400 bps.

Chinese homebuilders and property managers were dented significantly after midday. CHINA VANKE (02202.HK), CHINA OVERSEAS (00688.HK) and CHINA RES LAND (01109.HK) eroded 1.9%-4.4%. CIFI ES SERVICE (01995.HK) and SUNAC SERVICES (01516.HK) dived 12.1% and 11.4%.
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