Hong Kong Stocks Sink as Property Fear Spreads Beyond Evergrande –


Source: newsfeeds.media newsfeeds.media

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(Bloomberg) — Growing investor angst about China’s real estate crackdown rippled through markets on Monday, pummeling Hong Kong developers and adding pressure on Beijing authorities to stop financial contagion from destabilizing the economy. Hong Kong real estate giants including Henderson Land Development Co. suffered the biggest selloff in more than a year on speculation China will extend its property clampdown to the financial hub. Fears of contagion from China Evergrande Group continued to intensify, dragging down everything from bank stocks to Ping An Insurance Group Co. and high-yield dollar bonds. The Hang Seng Index dropped 3.9% at the midday break,...