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1.Market Observations, 8.Was Sticky

1 June 2018 (AFR) – Australian investors seek answers in China property blow-up

(1 June 2018, AFR, p36, by Michael Smith)

China non-financial sector debt (%GDP) (RBA)

China non-financial sector debt (%GDP) (RBA)

‘A Chinese property developer with extensive gold mining interests in Australia is under investigation by the country’s securities regulator after angry shareholders occupied its headquarters to demand answers about the company’s deteriorating financial position and a web of high-interest loans. Shares in Shandong Tyan Home, which owns gold mines in Western Australia and Queensland through Perth-based Minjar Gold, have lost more than half their value since the company emerged from a four-and-a-half month trading halt two weeks ago – triggering protests by retail investors who stormed the company’s head office in the northern Chinese city of Jinan.’

Read more (and see more graphs) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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