Hong Kong’s Hang Seng higher following news that Country Garden extends bond deadline

Hong Kong's Hang Seng higher following news that Country Garden extends bond deadline
  • Monday, 04/09/2023 | 08:07 GMT+5.5

Hong Kong’s Hang Seng higher following news that Country Garden extends bond deadline

Country Garden Holdings, a prominent property developer, has recently received approval to extend payments for an onshore private bond over the weekend. However, the status of an offshore bond scheduled for this week remains uncertain.

This development follows the relaxation of home mortgage policies in four major cities. Additionally, China’s financial regulators took steps last week to reduce down-payment requirements and lower interest rates on existing mortgages.

Hong Kong property stocks have surged with the news.

The Hang Seng is higher along with this.

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