- India to recall top envoy to Canada: foreign ministry
- Hezbollah, Israeli troops in 'violent clashes' after drone strike
- China insists won't renounce 'use of force' to take Taiwan as drills end
- Painkiller sale plan to US gives France major headache
- Italy begins landmark migrant transfers to Albania
- Russia jails French researcher for three years
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- New Zealand 4-0 up in America's Cup but British show signs of life
- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
Country Garden shares jump after China signals fresh support
Shares in heavily indebted Chinese developer Country Garden soared more than 17 percent on Thursday as signs emerge that Chinese officials are planning more concrete support for the troubled sector.
One of the biggest players in China's property industry, Country Garden has racked up debts estimated in June at 1.36 trillion yuan ($191 billion).
It is just one of many companies, including Evergrande, caught up in a sector-wide crisis that has seen a string of debt-laden builders either defaulting or threatening to do so, fuelling fears of a spillover into the wider economy.
Bloomberg News reported on Wednesday that Country Garden, which is listed in Hong Kong, was on a draft list of 50 developers that would be eligible for more financial support, citing sources with knowledge of the matter.
The list compiled by regulators includes private and state-owned developers and is intended as a guide to banks considering shoring up companies via a variety of mechanisms, Bloomberg said.
Sino-Ocean Group, another company reportedly on the list, soared more than 30 percent in Hong Kong. Among other developers, China Evergrande rose almost six percent and Kaisa Group was up more than seven percent.
Authorities are on edge as the creeping debt crisis fuels buyer mistrust, sends home prices plummeting and, crucially, threatens to infect other sectors in an already sluggish economy.
Construction and real estate account for around a quarter of China's gross domestic product.
In another sign that the government is preparing to offer the sector more support, China's rubber-stamp parliament on Wednesday released a report calling for banks to do more for the industry.
The document, from a meeting last month with the head of the People's Bank of China, said banks should step up help for developers to enact the "guaranteed delivery of buildings".
Over recent years, companies' failure to complete projects has sparked protests and mortgage boycotts across the country.
The document also called for financial institutions to "support the reasonable financing needs of real estate companies, reduce the risk of credit defaults, and alleviate the fears of residents purchasing long-term housing".
F.Bennett--AMWN