China Evergrande default fears haunt investors as Beijing stands back, for now – Reuters

China Evergrande default fears haunt investors as Beijing stands back, for now – Reuters

HONG KONG/NEW YORK, Sept 21 (Reuters) - Default fears continued to stalk China Evergrande Group on Tuesday despite efforts by its chairman to lift confidence in the embattled firm, as markets looked for possible intervention by Beijing to stem any domino effects across the global economy.

Analysts played down the threat of Evergrande's troubles becoming the country's "Lehman moment," though concerns about the spillover risks of a messy collapse of what was once China's top-selling property developer have roiled markets. read more

In the letter, coinciding with China's mid-autumn festival, the chairman of the debt-laden property developer, also said Evergrande will fulfil responsibilities to property buyers, investors, partners and financial institutions.