From the Wall Street Journal’s “U.S. Stock Futures Bounce After Global Market Selloff” posted early Tuesday:
Stock futures rose Tuesday, suggesting markets were poised to rebound a day after concerns about China’s property sector helped fuel a global selloff in stocks and commodities…
Global stocks have slid this week on concerns about a potential default of property giant China Evergrande Group. Despite the stronger tone Tuesday, investors remain concerned about the knock-on effects Evergrande’s debt crisis could have on China’s already flagging economic growth.
“Evergrande is not an isolated incident,” said Dave Wang, a portfolio manager at Nuvest Capital in Singapore. “There are, and will be, more property developers defaulting.” Given the sector’s contribution to the economy, “markets are pricing in the possible contagion impact,” he said.
My take: Anybody take advantage of yesterday’ buying opportunity?