China Evergrande's lenders weigh up loan losses, rolling over credit - RTRS cites sources
#EvergrandeGroup #Evergrande
Agricultural Bank of China has made some loan loss provisions for some of its Evergrande exposures. China Minsheng Banking Corp’s loan exposure to Evergrande cut to 30 bln yuan from 40 bln in past year.
#EvergrandeGroup #Evergrande
It is possible the government may step in to manage an orderly collapse of #Evergrande, said two banking sources familiar with the matter. "And the regulators have done related risk evaluation among the financial institutions before letting it happen," one of them said.
The Chinese banks’ measures, reported for the first time, show how financial institutions in the world’s second-largest economy are bracing for a possible collapse of #Evergrande.
reuters.com/article/china-…

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More from @Sino_Market

20 Sep
🇭🇰Hang Seng Index drops 1.1% in the morning session in #HongKong, with Ping An Insurance down 5.4%.

🇸🇬FTSE China A50 index futures traded in #Singapore fall nearly 2% in the morning session.
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20 Sep
Shares of #Evergrande open 1.57% lower in Hong Kong on Monday morning.
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Stocks related to Evergrande continue the downward trend in #HongKong.
The gauge tracking the #Evergrande-backed sector drops 4.8%, with China Evergrande Group -9.5%, Evergrande NEV -4%, Evergrande Property Services -5.2% and HengTen Networks -5.6%.
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18 Sep
Britain's business minister held emergency talks with the heads of the UK's largest energy suppliers and operators on Saturday to discuss a surge in gas prices that threatens a range of industries including suppliers of meat and poultry.
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reuters.com/world/uk/briti…
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$EUR
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China's Politburo held a meeting to analyze the current economic situation and economic work, presided over by General Secretary Xi Jinping.
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Hang Seng Index opens 1.1% lower.
Hang Seng Tech Index opens 3.2% lower, #Bilibili down 6.0%, #Meituan down 4.5% and #Alibaba down 4.8%.
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