Niaga AWANI: Country Garden's Stock Soars to 0.94 HKD After Major Deal in Guangzhou

Country Garden, China's largest property developer, experiences a surge in its stock price to 0.94 Hong Kong Dollars following the sale of a minority stake in a mixed development project in Guangzhou for 1.3 billion yuan. Additionally, the company extends the creditor voting deadline for a 3.9 billion yuan onshore private bond. Meanwhile, Malaysia's central bank assesses the financial stability risk for banks connected to Country Garden, stating that exposure to the developer is minimal, accounting for less than 0.1% of total banking system loans and bonds by June 2023.