Vanke's shares, bonds fall after bondholders reject payment extension

About this update from Marco Polo Holdings Co., Ltd. Class A

** Vanke's SZSE:000002 shares, bonds slump after developer failed to secure bondholder approval to extend by one year a bond payment due on Monday, increasing default risks ** Stock falls more than 4% in Hong Kong, more than 2% in Shenzhen** Several of co's onshore bonds slip, with one due January 2028 (CN149358SZ=) slumping more than 20%** Setback for co, one of China's highest-profile developers with projects in major cities, renews concerns about property sector** CSI 300 Real Estate Index SSE:000952 falls ~2%, flirting with record lows** Hang Seng Mainland Property Index HSI:HSMPI softens 0.4%** Vanke suppliers, including MarcoPolo Holdings Co SZSE:001386, Shenzhen Jianyi Decoration Group SZSE:002789 and Weiye Construction SZSE:300621, also decline** Rejection in three-day vote that ended late on Friday gives developer grace period of five business days to pay 2 billion yuan ($283.6 million) (CN102282715=) on onshore bond($1 = 7.0533 Chinese yuan renminbi)

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