Why Shares of KE Holdings Are Down Today
Shares of the Chinese real estate platform KE Holdings (NYSE: BEKE) have fallen nearly 13% as of 3:30 p.m. EDT today after there was some disappointing news regarding the Chinese real estate market.
Earlier today, media outlets reported that the Chinese real estate developer Modern Land missed a payment for one of its bonds that has outstanding debt of $250 million.
The news comes just weeks after one of China's largest real estate developers, China Evergrande Group (OTC: EGRN.F), had to address debt troubles of its own after running up a tab of more than $300 billion.
Source Fool.com
