Hong Kong Shares Sink As Evergrande Contractions Spread, Ping An Tumbles


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Hong Kong Shares Sink As Evergrande Contractions Spread, Ping An Tumbles Bank & Insurance By Jacky On Sep 20, 2021 Share (Bloomberg) — Concerns over the health of China’s real estate sector spilled over into Hong Kong’s markets on Monday, triggering the biggest sell-off of real estate stocks in more than a year, sweeping everything from banks to Ping An Insurance Group Co. and yield high dollar bonds. The Hang Seng Property Index plunged a whopping 5.9%, the most since May 2020, while Ping An Insurance, China’s largest insurer by market value, fell 7.3% in Hong Kong. The city’s Hang...