As Evergrande and Kaisa default on US dollar notes and Shimao was downgraded to non-investment grade, will more Chinese developers follow suit?
Evergrande's liquidity problems and the pressure on rivals Kaisa Group and Fantasia to make debt repayments point to how refinancing in the property development sector will only become more difficult.
Regulator under pressure to act as distressed Shenzhen property developer Kaisa faces court action from at least five trust companies attempting to seize its assets.
Sun Hung Kai Investment Services must pay HK$1.5 million after internal control failures. Separately, a retail investor is imprisoned for falsely trading shares of Kaisa Group.