China's property sector woes could spell trouble for prestige mega-projects in London, New York, Sydney and other top cities as the developers behind them scramble for cash.
Kaisa Group Holdings Ltd is seeking buyers for its Hong Kong-listed property management unit and two residential sites in the city, people with knowledge of the matter said, as it scrambles to meet a wall of debt repayments.
Chinese developer Oceanwide Holdings Co Ltd said on Thursday that holders of corporate debt issued by two of its offshore units have taken possession of the debt's collateral after the units failed to repay the maturing notes.
Debt-laden real estate developer China Evergrande Group has resumed construction on 40 projects in the Pearl River Delta region and expects to deliver 32 of them on time by the end of 2021, local media reported on Tuesday.
Turkey's lira sank to new lows on Monday as tensions between Ankara and the West combined with unconventional monetary policy and rising inflation, while most other emerging market currencies firmed against weaker dollar.