Property News · July 29, 2018

Chinese developers buy back their own shares to prop up prices as business prospects dim


Chinese property developers listed in Hong Kong have stepped up buying of their own shares this month as their business prospects dim, but fund managers and analysts remain sceptical that the purchases could translate into a sustained rebound in the Hong Kong market.
Eight mainland-based developers spent a total of HK$4.4 billion (US$560.7 million) on buying their own shares between July 2 and July 23, representing 43 per cent of the overall total between those dates. China Evergrande alone…

Source : South China Morning Post
Read more…Chinese developers buy back their own shares to prop up prices as business prospects dim

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