The news on Evergrande and friends is still troubled today as potential rescues vie with contagion:
Chinese property stocks fell as Evergrande agreed to dispose of a Hong Kong-listed business for the first time since its liquidity crisis began, while HengTen rallied. The deal, along with Country Garden Services Holdings Co.’s second share placement in six months, and onshore bond sales by two state-run developers, indicate firms’ fundraising efforts — totaling at least $4.2 billion over the past week — to alleviate a liquidity squeeze.
Goldman remains of the view that policymakers will need to do a lot more to stabilise construction:
