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Meanwhile, Standard Chartered has stopped accepting Adani Group bonds as collateral for giving loans to their private banking clients, after Credit Suisse and Citigroup.
Most Adani Group companies shed market cap on Monday, as the feud between the conglomerate and a short seller firm further deepened.
Unlike the stock market, the real estate market isn't privy to quick rebounds.
Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market. Twenty-two China high-yield bond issuers, all related to the property sector, have either defaulted on their U.S. dollar-denominated bonds or deferred repayment with bond exchanges since the start of this ...
Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst-case scenario for the riskiest part of the market.