Evergrande, the financial crisis of the Chinese giant weakens the world

by time news

Domino effect. The fear that the terrible financial situation of the Chinese group inspires Evergrande, which today registered over -10%, sinks the Hong Kong Stock Exchange (-3.39% in the session not yet closed), dragging down not only real estate development companies but also banks and insurance companies. In fact, even the securities of insurance companies are under pressure THAT e Ping An Insurance, with losses over -7%.

But that is not all. Due to the crisis of “Great White RhinoAs the colossal Chinese real estate group is dubbed, it has also weakened yuan offshore in a general movement probably amplified by the fact that the other Asian lists, from Tokyo to the Chinese ones, were closed today for holidays.

The bad too Borsa in Sydney and the Australian dollar, with theindice S&P/ASX 200 dropped by more than 2%, dragged down by the stocks of the mining giants Rio Tinto, Fortescue Metals Group e BHP, with losses of over 4%. In addition, iron has extended losses below $ 100 per ton.

The European and American futures are oriented downwards and the yields of the securities are slightly higher US Treasury ahead of the meeting of the Fed (US Central Bank) on Wednesday, where it is expected that the foundations for a reduction in the monetary stimulus. Finally, theindice d’area Stoxx 600 yields 1.83%, they slip Paris e Milano (-2,3%), Frankfurt (2,1%), Madrid (-1,9%) e London (-1.5%). On the currency front, the euro against the dollar changed hands at 1.1708, down 0.15%.

You may also like

Leave a Comment