Real estate sector has slowed sharply this year with sentiment shaken by tighter regulations and a liquidity crisis that engulfed the largest and most debt-laden developers

The China Evergrande debt crisis deepened Thursday as Fitch declared the property giant in default. It must make another 14 bond coupon payments worth almost $1 billion within five months.

Officials working on Evergrande's debt restructuring are expected to prioritise social stability, which means homebuyers, suppliers and employees are likely to be favoured ahead of foreign investors

The risk of a "Volcker moment" in China is still on with the worst yet to come for its property sector and growth set to plunge to 2.9% in the first quarter of 2022, says Nomura Holdings.

Stand News says hampers were worth HK$3,338 although officials cannot receive any gift which costs more than HK$3,000

Evergrande shares hit a record low on Wednesday after a missed debt payment left the firm at risk of becoming China's biggest defaulter, and trading in Kaisa Group stock was suspended

If the struggling property developer fails to find $82.5m in interest payments due last month, it would put the group at risk of becoming China's biggest-ever defaulter

Unlike a couple of months ago, the fallout has been broadly contained, with policy makers in Beijing becoming more vocal and markets more familiar, analysts say

The commercial building is situated in Canberra's Central Business District and has a net leasable area of 40,000 square metres, the report said

Some bondholders did not receive coupon payments due on Monday in what could be group's first offshore default on a public bond. That will trigger cross-defaults on $19bn bonds in global markets

Default shows some developers continue to struggle even as Beijing has started to marginally relax financing to meet developers' normal funding needs

Evergrande shares plunged 19% to a multi-year low as a 30-day grace period on an $82.5m payment ends on Monday, while developer Sunshine 100 defaulted.