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Evergrande will walk out of its darkest moment

Evergrande will walk out of its darkest moment | 21 September 2021

21 September 2021, USD/JPY

Evergrande will walk out of its darkest moment

USDJPY trading plan:

China Evergrande Group is confident the company will “walk out of its darkest moment”, the property developer’s chairman said in a letter to staff on Tuesday, as nervous global investors fretted about default risks. The nation’s second-largest developer, saddled with more than $300 billion in liabilities equivalent to 2% of China’s gross domestic product, is scrambling to raise funds to pay its many lenders and suppliers as it tries to stem a liquidity crisis from tipping it into a collapse. The regulators may "buy time to digest" Evergrande's non-performing loan problem by guiding banks not to withdraw credit and extend the interest payment deadline.

Investment idea: buy 109.34 and take profit 110.10.

David Johnson
Analyst of «FreshForex» company
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