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CN Developers Subtract Broadly; CHINA VANKE Ebbs 5%; SHIMAO GROUP Tumbles ~10%
Recommend 37 Positive 68 Negative 31 |
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CHINA VANKE (02202.HK) retreated this morning (13th). The stock opened 3.31% lower and bottomed at $5.85. It last traded at $6.03, down 5.04%, on a volume of 74.2545 million shares, involving $449 million. Yesterday (12th), there were reports saying that CHINA VANKE received China's assistance to fill a funding gap of RMB50 billion, pushing up the company's stock price before the finish line. It eventually leaped by 16.7% for the day. Other Chinese developers were squeezed across the board. SHIMAO GROUP (00813.HK) last slumped 9.7% to $0.93. AGILE GROUP (03383.HK), SUNAC (01918.HK), SINO-OCEAN GP (03377.HK), and R&F PROPERTIES (02777.HK) last plunged 5.9-8.7%. COUNTRY GARDEN (02007.HK) fell 4.6% to $0.415. Among blue-chip Chinese developers, CHINA OVERSEAS (00688.HK), CHINA RES LAND (01109.HK), and LONGFOR GROUP (00960.HK) dipped between 0.4% and nearly 1%. CH OVS G OCEANS (00081.HK), YUEXIU PROPERTY (00123.HK), SEAZEN (01030.HK), and POLY PROPERTY (00119.HK) fell 0.6-1.3%. CHINA JINMAO (00817.HK) sagged nearly 3%. AAStocks Financial News |
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