KUALA LUMPUR: AmInvestment Research believes the sharp fall in China’s Evergrande Group share price will have a limited impact on Malaysia’s stock market.
Evergrande’s share price fell 10% on Monday to HK$2.28. This is the lowest level in more than 11 years. Year-to-date, the stock has tumbled 85% from HK$14.90 at the start of 2021.
“We understand that the weak share price performance is caused by concerns that the company may not have sufficient cash to address its near-term payment obligation to lenders,” it said.
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