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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
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Australia shares end higher on reopening hopes; energy, bank stocks gain

09/27/2021 | 03:29am EST

* Travel stocks among best performers on ASX 200

* Energy stocks & major banks led gains

* NZX 50 fell 0.2%

Sept 27 (Reuters) - Australian shares ended higher on Monday, buoyed by optimism over plans to lift the COVID-19 lockdown in the country's most populous state, while heavyweight energy and bank stocks also provided momentum.

The S&P/ASX 200 index closed 0.57% higher at 7,384.2 points. The benchmark fell 0.37% on Friday.

Movement restrictions across New South Wales will be lifted gradually between Oct. 11 and Dec. 1 as vaccination rates push through 70%, 80% and 90%, authorities said.

"Low coronavirus numbers in our largest state have been helpful today, and travel stocks are doing well as investors looked ahead to the reopening of the states," Brad Smoling, managing director at Smoling Stockbroking said.

Global risk mood has also swung to positive as the fallout from cash-strapped property developer China Evergrande seems to be contained for now, Smoling added.

Travel and tourism companies surged on the news of COVID-19 curbs easing, with Qantas Airways soaring up to 4.3% to hit more than a year's high. Travel agency Flight Centre climbed 7.48%, while peer Webjet rose 5.21%.

Energy stocks rose 1.81%, tracking oil prices that rose for a fifth straight day as parts of the world see demand pick up with the easing of pandemic conditions.

Heavyweights Beach Energy Ltd and Woodside Petroleum Ltd were the top gainers on the sub-index, advancing 4.22% and 3.2%, respectively.

Financial stocks rose 1.52%, with a spike in lending rates last week helping lift major banks, as higher rates lead to better margins.

Among the 'Big Four' banks, the country's biggest lender Commonwealth Bank climbed up to 3.2%, marking its best day since June 22.

New Zealand's benchmark S&P/NZX 50 index fell 0.2% to finish the session at 13227.7 points. (Reporting by Riya Sharma in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BEACH ENERGY LIMITED 4.27% 1.22 End-of-day quote.-32.41%
CHINA EVERGRANDE GROUP 1.10% 1.83 End-of-day quote.-87.72%
COMMONWEALTH BANK OF AUSTRALIA 0.40% 97.63 End-of-day quote.18.90%
FLIGHT CENTRE TRAVEL GROUP LIMITED 5.68% 18.22 End-of-day quote.14.95%
QANTAS AIRWAYS LIMITED 3.82% 5.17 End-of-day quote.6.60%
WEBJET LIMITED 4.51% 5.56 End-of-day quote.9.66%
WOODSIDE PETROLEUM LTD 1.95% 21.94 End-of-day quote.-3.52%
All news about CHINA EVERGRANDE GROUP
06:36aChina Evergrande shares hit new low amid debt crisis; Kaisa misses pay date
RE
02:31aChinese Shares Rebound; Zeyu Intelligent Electric Rises 33% in Shenzhen Debut
MT
12/07Evergrande Default Inevitable on ‘Extremely Weak' Liquidity, S&P Says
MT
12/07China's Reserve Ratio Cut Not Enough to Save Property Developers Rated B and Below, S&P..
MT
12/07Trading in shares of Chinese developer Kaisa suspended -HKEX
RE
12/07Evergrande Bondholders Yet to Receive Coupon Payments as Grace Period Lapses
MT
12/07Evergrande Sets Up Risk Management Committee as Restructuring Looms
MT
12/07Bulls take charge as Omicron concerns ease
RE
12/07China's Evergrande edges closer to default after missing debt deadline
RE
12/07No Evergrande bondholders have received overdue coupon payments - source
RE
More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 530 B 67 902 M 67 902 M
Net income 2021 9 514 M 1 220 M 1 220 M
Net Debt 2021 453 B 58 138 M 58 138 M
P/E ratio 2021 2,54x
Yield 2021 2,08%
Capitalization 24 164 M 3 099 M 3 099 M
EV / Sales 2021 0,90x
EV / Sales 2022 0,61x
Nbr of Employees 163 119
Free-Float 27,4%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | 3333 | KYG2119W1069 | MarketScreener
Technical analysis trends CHINA EVERGRANDE GROUP
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 1,83 HKD
Average target price 6,34 HKD
Spread / Average Target 246%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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