Sunac Shares Rebound After Drop Spurred by Wind-Up Petition

Sunac China shares rise as much as 12% in Hong Kong, with analysts citing bargain hunting activity after a sharp plunge last week.

• Shares rebound after falling almost 42% last week
• “It’s mainly due to the rebound after last week’s sharp drop on liquidation petition,” says Jeff Zhang, an analyst at Morningstar Inc.
  • Uncertainties remain over the company’s liquidity as its sales in 2024 were “not ideal”: Zhang
• Sunac says it can’t rule out a second offshore debt restructuring as a prolonged property crisis dims its outlook and it faces another court petition to wind up operations
• “A second ...