A look at the day ahead in U.S. and global markets by Mike Dolan
After the worst week since March on Wall St, three issues keep the pressure – a possible U.S. government shutdown at the end of this week, rising annual oil prices and a heavy diary of Treasury debt sales.
Even before U.S. markets kick off on Monday, China’s ongoing property bust threw another curve ball at stocks markets there.
Shares of the ailing China Evergrande plunged 21.8% after the developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans.
Country Garden fell more than 7% as investors nervously watch out for its latest dollar bond coupon payment on Wednesday.
Concerns about the smouldering real estate problem knocked China’s main bourses again by another 0.6%, but Hong Kong’s Hang Seng plunged 1.8%.
Perhaps as worrying for foreign investors was anxiety surrounding the fate of Nomura’s head of China investment banking…
2023-09-25 05:17:55
Source from finance.yahoo.com