[Hong Kong, 20th Reuters]–The stock price of China’s Evergrande Group, a major Chinese real estate developer who is in financial difficulty, plummeted on the 20th. Investors’ views are becoming more and more strict as the due date for interest payments on corporate bonds is approaching.
0337 GMT (as of 0:37 pm Japan time) is down 16.93%.
Stocks of affiliated companies are also sold across the board, with the real estate management division falling by more than 9% and the electric vehicle division by more than 6%. Evergrande, a movie streaming company in which Evergrande holds a majority stake, has fallen by more than 11%.
Evergrande of China will be due for interest payments on corporate bonds of $ 83.5 million on the 23rd.
Interest payments of $ 47.5 million will be refrained on the 29th. Failure to fulfill interest payments within 30 days will result in default (default).
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