2 years ago

485

Market wrap Bluechip review and China Evergrande collapse.

CHINA
Mega-developer Evergrande sits on the brink of collapse, with experts warning that the Chinese company’s failure could trigger global shockwaves.
Global markets were battered on Monday as the world's most indebted company, Evergrande, teetered on the verge of a complete unravelling.
The second-largest property developer in China has around $400 billion in debt,
and the Chinese government has warned it won’t step in to bail it out, in what some have warned is an approaching crisis of Lehman Brothers proportions.

Evergrande is one of China’s largest property developers and is responsible for more than 1,300 projects in over 280 cities in China.
And if you thought the Aussie property market was booming, it has nothing on China’s.

Home prices in China had risen to be amongst the most expensive in the world, particularly in major cities like Beijing, Shanghai, Shenzhen and Guangzhou.
To keep up with the constantly rising demand, Evergrande kept taking out loans - and then the Chinese government got involved.

The government introduced a range of measures to crack down on excessive borrowing as well as moves to slow housing price growth.
“In the worst case scenario, a total collapse of Evergrande would ripple through the global economy"

The Evergrande collapse article is in the link below - feel free to read it at your leisure for further details.
https://au.finance.yahoo.com/news/how-would-an-evergrande-collapse-impact-australia-013546908.html

Using a Daily price chart, we review the weekly progress of a sample of Bluechip stocks from Australia, the US and Europe - Telefonica (TEF.BME), Commonwealth Bank Of Australia (CBA.AX), BHP Group Ltd Australia (BHP.AX), JPMorgan and Chase (JPM.NYSE), Volkswagen AG (VOW.XETRA), Johnson & Johnson (JNJ.NYSE), Caterpillar Inc (CAT.NYSE).

Showing any new open and closed positions, profitability and draw down requirements dependent on the trend of the respective price charts.
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