The company logo of Fosun group. Photo: Handout
The company logo of Fosun group. Photo: Handout

Shares in Chinese conglomerate Fosun drop after Moody’s downgrade cites weak liquidity and property contagion risk

  • Listed units fell in mainland and Hong Kong trading on Wednesday after Moody’s downgraded the company by one notch to a B1 rating
  • Fosun said the rating cut was largely based on an overly pessimistic reading of the broader economy and market conditions

The company logo of Fosun group. Photo: Handout
The company logo of Fosun group. Photo: Handout
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