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Chinese market turmoil, continued rise in risk-off sentiment🥴
The risk-off sentiment gathered steam yesterday, with China being in the spotlight once again as China Evergrande Group announced it's being probed by the CSRC over suspected disclosure violations, while Country Garden warned of "major uncertainties" in bond redemption and trading of some local notes will remain halted. Meanwhile, protestors gathered outside Zhongrong's office to protest on missed payments from investment products, and Tencent stock fell nearly 4% at one point after reporting revenues that missed estimates on the back of poor gaming sales.
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