RBA minutes to provide little help for the ASX200 after its Evergrande fall
Tony Sycamore September 20, 2021 7:05 AM
The ongoing woes of Chinese property developer Evergrande have sparked fears of contagion across markets to kick start a busy week of trading that boasts no fewer than ten central bank meetings.
Shares of Evergrande plunged as much as 19% today as the group weighed down by over US$300 billion in debt, again warned that it could default. Property developers account for around 50% of China's steel demand, helping to explain the 21% fall in iron ore price last week.
Source Tradingview. The figures stated areas of September 20th, 2021. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation
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