There is nothing more edifying than watching the scab grab as the tide recedes on those swimming naked:
Chinese property developers are putting their own shares under pressure as they look to raise cash to pay debt and ride out a historic funding squeeze.
Shares of Sunac China Holdings Ltd. declined almost 12% after the company raised about $953 million through the sale of new stock and a stake in its property-management unit. China Aoyuan Group Ltd. tumbled more than 11% after it said it would sell Hong Kong properties at a loss. Other developers also retreated.