News Snapshot:
HONG KONG: Shares of Chinese real estate developers surged on Monday after China’s central bank calmed markets by saying the ripple effects of Evergrande’s debt problems were controllable and the country’s economy “is doing well “. Major developers Country Garden and Sunac China jumped more than 4% and 8%, respectively, at the start of the session, but China Vanke was down 2.6%. People’s Bank of China Governor Yi Gang said on Sunday that the Chinese economy faces challenges such as default risks for some companies due to “mismanagement” and authorities are watching closely. “so that they do not become systematic...
