A man and a child walk by a construction site under property developer CIFI Holdings in Wuhan, Hubei province, China, February 4, 2016. . REUTERS/Stringer
SHANGHAI: Investors dumped shares and bonds of Chinese property developers on Wednesday, after a media report that CIFI Holdings (Group) Co had defaulted, adding to worries over the crisis-stricken real estate sector.
Hong Kong-listed shares of CIFI Holdings tumbled 26% in morning trading to a record low, after credit intelligence provider Reorg reported that the Chinese developer had missed payment on certain non-standard debt.
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