HSNGY - Evergrande Chinese real estate stocks stabilize as PBOC says risk is 'controllable'

China's central bank asserts that most of the country's real estate businesses are stable and that the risks posed by China Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY), the country's second-largest property developer, are "controllable." In a press conference, Zou Lan, director of the People's Bank of China said Evergrande's problems are an "individual phenomenon." He also said that authorities would protect consumers' house purchases and provide support for the resumption of construction, CNBC reports. Evergrande's (OTCPK:EGRNF) U.S.-listed shares rise 0.4% in Friday trading. Shares in KE Holdings (NYSE:BEKE), which operates a popular real estate app in China, jumps 3.2%. Leju Holdings (NYSE:LEJU), another real estate services firm, gains 1.0%, Nam Tai Property (NTP +0.2%). Hong Kong and Chinese bank stocks also stabilize — HSBC Holdings (HSBC +2.3%), Hang Seng Bank (OTCPK:HSNGY +3.2%), Bank of East Asia (OTCPK:BKEAY), Industrial & Commercial Bank of China (OTCPK:IDCBY +0.3%), China Construction Bank (OTCPK:CICHY -0.1%), Bank of China

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Evergrande, Chinese real estate stocks stabilize as PBOC says risk is 'controllable'