Evergrande's Wealth Unit Says We Are Unable To Repay Investors This Month
Portfolio Pulse from Happy Mohamed
Evergrande's wealth unit has announced that it is unable to repay investors this month, according to Reuters. This news may have implications for the iShares China Large-Cap ETF (FXI), which has exposure to Evergrande.
August 31, 2023 | 12:07 pm
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NEGATIVE IMPACT
The inability of Evergrande's wealth unit to repay investors could negatively impact the iShares China Large-Cap ETF (FXI), which has exposure to Evergrande.
Evergrande's financial troubles could lead to a decrease in the value of its assets, which would negatively impact the value of the iShares China Large-Cap ETF (FXI) due to its exposure to Evergrande. This could lead to a decrease in the ETF's price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75