A growing number of cities in China have tightened supervision over the use of presold property proceeds, a move likely to deepen the cash crunch at many of the country’s real estate developers that have relied on the inflows as a key source of funding, Bloomberg News reported. Major cities including Beijing, Tianjin and Shijiazhuang as well as smaller municipalities like Suzhou and Nantong in the eastern province of Jiangsu, and Luohe in central Henan province have issued rules tightening oversight of the proceeds, according to a China Business News report and government statements.

Chinese property developer Kaisa Group Holdings Ltd. plans to speed up asset disposals to meet investor obligations, after the indebted company missed a payment on a wealth-management product last week, the Wall Street Journal reported. The Shenzhen-based company has sufficient “high-quality assets” it can tap to make the payments, Kaisa said in a statement on its website late Monday, adding that it would seek to sell assets in Shenzhen, Shanghai and other places.

Sino Ocean Group Holding Ltd., part-owned by the finance ministry, has become the latest property company to see its bonds slump. Its 4.75% note due 2030 fell Monday to as low as 73.48 cents on the dollar, with spreads over comparable Treasuries widening to a record 800 basis points, according to data compiled by Bloomberg. That’s despite the firm being rated investment-grade at two global credit assessors and holding about 54 times more cash and equivalents than China Evergrande Group. Sino Ocean’s shares have been doing better, rebounding 35% from their September low. They rose 3.5% Monday.

Indonesian clothing firm PT Sri Rejeki Isman plans to propose the reactivation of working capital facilities through a revolving loan in the amount of $275 million in a creditors’ meeting, Bloomberg News reported. The secured working capital revolver would help the Jakarta-listed company, known as Sritex, in the procurement of raw materials and reduce the needs to make cash advance payments to its raw material suppliers, according to a proposed term sheet dated Nov. 5 that was accessed through a link in a filing to Singapore exchange on Saturday.

Sydney Airport has agreed to accept a A$23.6bn (£13bn; $17.5bn) takeover bid from a group of investors, BBC.com reported. If completed, the deal will one of Australia's biggest ever buyouts. The agreement came after Sydney Aviation Alliance (SAA) raised its bid in response to the airport's owner rebuffing its earlier offer. However, the proposed sale faces a number of potential obstacles, which means the process could still take months to complete.

President Tayyip Erdogan said on Monday that Turkey will remove two fixed payments from electricity bills to help consumers, adding his government had already subsidised some energy costs, Reuters reported. Erdogan faces tough elections no later than mid-2023 and his approval ratings have been hit by Turkey's nearly 20% inflation rate, with recent rises in staples such as food and gas.

Japan is considering an economic stimulus package worth more than 30 trillion yen ($265 billion) aimed at easing the pain from the COVID-19 pandemic, a plan that would require issuing new debt, Kyodo news reported, according to Reuters. Part of the spending will come from funds carried over from last year's budget, Kyodo reported late on Sunday. A government panel tasked with drawing up a blueprint for Prime Minister Fumio Kishida's so-called new style of capitalism is expected to issue proposals on Monday that will lay the backbone of the planned stimulus package.

Japan said it would allow short-term business travelers and foreign laborers to enter the country, responding to calls from companies that said they feared falling behind the West, the Wall Street Journal reported. The decision followed a sharp fall in new infections in Japan, which is reporting only a few hundred new Covid-19 cases a day. More than 70% of the population is fully vaccinated. The loosening up puts Japan closer to the rules in the U.S.

Hong Kong’s Securities and Futures Commission sees no broader systemic risk from the troubles at China Evergrande Group after keeping a close eye on the exposure of brokers and banks, its chief executive officer said, Bloomberg News reported. The financial watchdog has conducted frequent stress tests on its regulated financial institutions to assess their risks and balance sheet exposures “way before Evergrande,” Ashley Alder told reporters on Friday. “We have looked very very carefully at the institutional level, in particular exposures and expectations, in Hong Kong,” he said.

Kaisa Group Holdings Ltd. plans to sell property assets valued at almost $13 billion to raise capital after the cash-strapped Chinese developer flagged liquidity stress and missed payments on investment products, Bloomberg News reported. The company has put 18 projects covering 1.45 million square meters (15.6 million square feet) in Shenzhen up for sale, with a total value estimated at 81.82 billion yuan ($12.8 billion), according to people familiar with a briefing by Kaisa’s executives to retail investors on Thursday.