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E-Minis Lower On Heavy Start For Chinese Property Developers

EQUITIES

E-minis move lower in recent trade, with the S&P 500 and DJIA contracts taking out their respective Tuesday lows, leaving the 3 major e-mini contracts 0.3-0.4% below their respective settlement levels.

  • A weak start for Chinese property developer names seems to be the driver there, with Logan Group tumbling by over 50% as the company’s shares trade for the first time since early May. This comes after the trading halt in the stock was triggered by the well-documented issues faced by the property developer.
  • Elsewhere, a BBG article won’t be doing the sector any favours, noting that “China is probing a number of executives at state-owned real estate companies, signaling an expansion of the government’s crackdown on misconduct that has centered on the financial and technology sectors.“
  • The Hang Seng is 0.8% weaker in early dealing.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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