Chinese Real Estate -8% TodayJust FYI, an equally price-weighted basket of large Chinese real estate companies is down 8% today. Rumor is going around lots of companies in this sector are not paying interest payments and are on the verge of default. Maybe it could spill over into global markets? Dare I say it could be an outbreak in the market flu?
These companies are much larger than Enron. Evergrande (HKEX:3333) by itself has 120,000 employees, about 6 times as many as Enron had. Maybe something to think about.
Here is the symbol if you want to view it yourself:
'1918'/2.912+'0960'/2.862+'2202'/2.623+'2777'/1.112+'3333'/1.527+'2007'
I hope this was somehow useful. Good luck and don't forget to hedge your bets!
