China’s Kaisa, units suspend trading in Hong Kong after missed payments – Bloomberg

Dhwani Mehta FXStreet

Shares of Kaisa Group Holdings Ltd., Kaisa Capital Investment Holdings Ltd., Kaisa Health Group Holdings Ltd. and Kaisa Prosperity Holdings Ltd. Were suspended for trading in Hong Kong on Friday after the troubled Chinese property developer missed its payments, per Bloomberg.

This comes a day after the Chinese developer raised concerns about liquidity crunch due to unfavorable factors such as credit rating downgrades and a challenging property market environment.

Kaisa woes add to the looming risks of China Evergrande Group, which is currently weighing negatively on the Chinese stocks in the opening trades.

Meanwhile, AUD/USD is trading at fresh session lows of 0.7384 on resurfacing China concerns, down 0.16% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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