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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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Japan's Nikkei falls nearly 2% on election, China Evergrande jitters

10/21/2021 | 02:49am EST

TOKYO, Oct 21 (Reuters) - Japan's Nikkei share average fell nearly 2% on Thursday, weighed down by fresh fears around China Evergrande Group, concerns ahead of a general election and worries over the impact of rising costs on corporate outlook.

The Nikkei fell 1.87% to close at 28,708.58, while the broader Topix lost 1.31% to 2,000.81.

Overnight, the S&P 500 and the Dow rose, with the Dow hitting an intraday record high, while the Nasdaq lagged as technology stocks took a breather.

The Nasdaq's weak finish triggered a sell-off in Japanese technology heavyweights, while investors nervously awaited whether Prime Minister Fumio Kishida would take decisive measures to boost the pandemic-beaten economy.

"The ruling LDP (Liberal Democratic Party) would probably win a majority but it is not clear whether the party would make changes that would meet market expectations," said Ikuo Mitsui, a fund manager at Aizawa Securities.

The LDP will likely lose some seats in the Oct. 31 lower house election, but the ruling coalition it forms with the Komeito party is expected to maintain a majority, local media reported.

"Also, investors are wary about the potential impact of rising costs and oil prices as well as supply chain disruptions on corporate outlook for the second half of the corporate business year," Mitsui said.

The Hong Kong-listed shares of debt-ridden China Evergrande lost 12% on Thursday when the company resumed trading after a more than two-week suspension.

Chip-making equipment maker Tokyo Electron dragged the Nikkei the most, falling 4.61%. Uniqlo brand clothing shop operator Fast Retailing lost 2.98% and global technology start-up investor SoftBank Group fell 2.06%.

Airlines were down 2.1%, declining the most among the exchange's 33 industry sub-indexes amid concerns about a possible resurgence of COVID-19 infections as cases in the UK rose.

Oil-related shares shined as crude prices rose.

Nippon Paint Holdings gained 0.59% after the world's fourth-largest paint company announced an acquisition of decorative paints specialist Cromology. (Reporting by Junko Fujita; Editing by Krishna Chandra Eluri and Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -10.39% 2.5 End-of-day quote.-83.22%
FAST RETAILING CO., LTD. -3.29% 71630 End-of-day quote.-22.54%
NIPPON PAINT HOLDINGS CO., LTD. 0.08% 1213 End-of-day quote.-46.47%
SOFTBANK GROUP CORP. -5.19% 6336 End-of-day quote.-21.37%
TOKYO ELECTRON LIMITED -2.31% 60840 End-of-day quote.58.44%
All news about CHINA EVERGRANDE GROUP
06:50aHong Kong Regulator Says Defaults of Mainland Developers Pose No Risk to System
MT
05:21aEvergrande founder sells 9% stake for $344 million amid debt crunch
RE
03:50aHong Kong firms scoop up properties from Chinese developers in distress
RE
02:22aChina Evergrande soccer stadium taken over by government -source
RE
12:14aChina Evergrande Reportedly Selling Guangzhou Football Club
CI
11/25Hong Kong shares rise as Alibaba, Tencent rebound
RE
11/25China CO2 emissions fall for first time since COVID rebound, report says
RE
11/25China’s Chengdu City Eases Rules For Property Builders
MT
11/24Chinese Estates Offloads More Evergrande Shares Worth $146 Million
MT
11/24Kaisa to Propose 1.5-Year Extension For $400 Million Bond; Shares Rally 21%
MT
More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
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 3,47x
Yield 2021 1,82%
Capitalization 33 011 M 4 233 M 4 233 M
EV / Sales 2021 0,92x
EV / Sales 2022 0,63x
Nbr of Employees 163 119
Free-Float 18,6%
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
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 2,50 HKD
Average target price 6,34 HKD
Spread / Average Target 154%
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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