Latest Videos
The information you requested is not available at this time, please check back again soon.
Creditors of distressed Korean builder Taeyoung Engineering & Construction Co. are poised to decide Tuesday on whether to allow the firm to begin restructuring its debt, after it rattled local markets at the start of the year.
Australian retail sales surprisingly fell in March as households faced the prospect of higher borrowing costs for longer. The currency declined.
Ballot counting in Togo’s parliamentary vote that may cement the family dynasty of President Faure Gnassingbé in power got underway Monday.
Retailer American Eagle Outfitters Inc. is relocating its New York City offices to Madison Avenue in one of the city’s largest new leases so far this year.
WeWork Inc. and its major financial backers including SoftBank Group Corp. have struck a new restructuring deal to get the ailing workspace provider out of bankruptcy, spurning a competing financing proposal from co-founder Adam Neumann.
Sep 20, 2021
, Bloomberg News
(Bloomberg) -- Sinic Holdings Group Co. has halted trading after an 87% slump in its shares Monday afternoon.
The Shanghai-based developer didn’t give any reason for the trading halt in Hong Kong. The sudden selloff in the last two hours leading up to the suspension was accompanied by a surge in trading volume that was about 14 times its average in the past year, according to Bloomberg-compiled data.
The company has a 9.5% $246 million bond due on Oct. 18 and Fitch Ratings revised its outlook to negative last week.
The move comes as Hong Kong’s property gauge dropped the most since May 2020 amid growing investor angst about China’s real estate crackdown and worries that Beijing may tighten grip on the city’s property sector in its “Common Prosperity” campaign.
©2021 Bloomberg L.P.
