China’s Housing Woes Push Vanke, Longfor Deeper Into Distress
- Weak property sales data weighs on developers’ bonds, shares
- Investor confidence for sustained recovery low, analyst says
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Some of China’s most closely watched property developers slid by the most in months, after home sales data underscored a worsening real estate slump.
China Vanke Co.’s 3.5% dollar bond due 2029 was down about 5 cents on the dollar on Tuesday at 42.4 cents, the steepest daily decline since March 4.