China's Evergrande: Cannot guarantee will continue to meet financial obligations

Eren Sengezer FXStreet

The main unit of China Evergrande Group, Hengda Real Estate Group Co, announced on Friday that it has not made substantial progress in disposing of the real-estate giant's assets, as reported by Reuters.

The group further noted that it cannot guarantee it will be able to continue to meet the financial obligations under contracts.

Market reaction

This development doesn't seem to be having a significant impact on market sentiment. As of writing, the Dow Futures were flat on the day and the S&P Futures were down 0.08%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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