Australian shares have closed lower, with healthcare and tech stocks dragging on the market and Omicron restrictions tempering investor optimism overseas. Key points: Healthcare and utilities were the biggest drags on the ASX in early trade Ratings agency Fitch downgraded China Evergrande Group Wall Street finished its day mostly lower as markets await the latest US consumer inflation figures The …
Following the development, Fitch Ratings agency has downgraded the Evergrande’s status to ‘restricted default rating’ Beijing, China: Two major Chinese property firms have defaulted on $1.6 billion worth of bonds to overseas creditors, Fitch Ratings agency said Thursday, as contagion spreads within the country’s debt-ridden real estate sector. The Chinese government sparked a crisis within the property industry when it …
Hong Kong CNN Business — Evergrande, the embattled Chinese property developer, has defaulted on its debt, according to Fitch Ratings. The credit ratings agency on Thursday downgraded the company and its subsidiaries to “restricted default,” meaning that the firm has failed to meet its financial obligations. In another filing Monday, the company said it would set up a risk management …
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