European stock markets in the red, still crisis for real estate in China

Slightly bearish start for the European stock exchanges, still weighed down by the data on inflation and producer prices that arrived from the USA at the end of last week, which dashed any hope of a halt to interest rate hikes. Milan with -0.17%, the other main price lists are at the same level.

An even sharper drop for Asian bourses and in particular Hong Kong, which sheds more than 2%. Impact of a new wave of sell-offs on real estate securities and in particular on Country Garden, another industry giant which is saddled with huge debts and may struggle to repay, according to rumors that have been circulating for days. And which today presented a catastrophic balance sheet for the first half of the year with losses of more than seven and a half billion dollars. The result: a renewed tumble of more than 15% in the stock, which was already down 31.5% last week and is now worth just over 80 Hong Kong dollar cents, less than 10 euro cents.

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