News Snapshot:
SHANGHAI, Jan 18 (Reuters) – Property developer shares rose on Tuesday after a Chinese lender unveiled a plan to issue debt to fund real estate acquisitions – the first bank to do so – while Beijing sought to reassure investors about the broader impact of defaults on bond markets. Shanghai Pudong Development Bank Co plans to raise 5 billion yuan ((dollar)790 million) by selling three-year bonds through China’s interbank market, it said in a filing on Monday. The funds would be used to finance real estate project acquisitions in the form of lending, it said. The bond sales plan by...
