Via Moody’s:
-
Weak fundamentals in China’s property sector will further weigh on
Chinese developers’ credit quality over the next 12-18 months -
State-owned Chinese property developers will outperform market, while
privately owned companies will face further strain -
Uncertain sales recovery in China’s property sector further cloud
rated developers’ ability to restore financial profiles
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Meanwhile the US dollar is dripping a touch lower in Asia.
AUD/USD, as an example, but NZD, CAD, GBP and EUR all a touch better bid also: