More Trouble In Chinese Developer Paradise

There was more trouble in paradise on Thursday. Chinese developer Kaisa Group said a subsidiary missed a payment on a wealth management product, rekindling Evergrande contagion fears and underscoring the impact of Beijing's property curbs on the operating environment. Kaisa cited "unprecedented pressure on its liquidity" stemming from mounting hardships, including cascading downgrades and worsening sentiment. Its dollar bonds fell. Somewhat disconcertingly, onshore debt is now along for the