Shares of Chinese property giant Evergrande experienced a significant surge after trading resumed in Hong Kong, rising 22% in early trade. This comes after a 17-month suspension and follows a sharp decline in the company’s market valuation. Evergrande’s executive chairman is under scrutiny for suspected crimes, adding to the challenges faced by the embattled developer. Despite the positive movement in share prices, the company still faces significant financial difficulties and uncertainty.
The Reserve Bank of Australia (RBA) is expected to maintain a hawkish stance and keep interest rates unchanged in its upcoming policy decision meeting. ANZ forecasts that the RBA will not raise rates in the next few months, citing a “really hawkish pause.” The central bank’s new governor, Michele Bullock, will oversee this meeting, and the Reuters poll also expects rates to be held at 4.10%. However, ANZ warns that discouraging inflation results may necessitate additional action in the future.
According to analysts from Goldman Sachs, shares in a European delivery company are projected to double in value within the next year. The company is described as a market leader and is expected to benefit from a more competitive landscape. This optimistic outlook is based on the company’s strong position and potential for growth in the evolving delivery industry.
