Chinese Stocks Gain Steam As Citi, Barclays, UBS Discount Evergrande Crisis Compared To Lehman

Chinese Stocks Gain Steam As Citi, Barclays, UBS Discount Evergrande Crisis Compared To Lehman
  • Citigroup Inc CBarclays PLC BCS, and UBS Group AG UBS strategists have discounted the magnitude of Evergrande Property EVGPF EVGPY crisis relative to the Lehman Brothers debacle, Bloomberg reports.
  • Barclays cited the dissimilarities in the market environment during the crises.
  • UBS highlighted the lower default levels versus the size of China’s economy.
  • Citi sees the policymakers stepping in. Jefferies Financial Group Inc JEF also perceived limited impact.
  • Growing investor anguish about Evergrande and China’s real-estate sector affected the global risk assets this week, affecting stocks with less tangible links to China.
  • S&P Global Ratings warned against default by the distressed developer without China’s government support. 
  • Alibaba Group Holding Ltd BABA shares traded higher by 0.14% at $151.70 in the premarket session on the last check Tuesday. Baidu Inc BIDU was up 1.08% at $156.17, JD.com Inc JD was up 0.46% at $74.49, DiDi Global Inc DIDI was up 1.68% at $7.88.

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