China property nerves continue stalking Asia

China property developer, Modern Land (China) Co Ltd, become the fourth China property developer to default on an overseas debt obligation yesterday. Although the amount is small, relatively, ongoing concerns about the property sector in China appear to be weighing on sentiment in Asia today. Evergrande, the centre of the China property storm, has another grace period payment due this week on 29 October, and nerves will be taut until it does, or does not, make payment.

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