BUZZ-Country Garden falls after co says to raise funds for missed coupon payment

Reuters03-13

** Country Garden Holdings's shares fall 4.9% to HK$0.58, on course to snap three straight sessions of gain

** Stock on track for biggest one-day pct drop since March 5 and is stock down 24.4% YTD

** The Chinese property developer says funds for 96 mln yuan ($13.4 mln) coupon payment due Tues not fully in place and it plans to raise funds for the missed onshore coupon payment within 30-day grace period

** Rivals also fall: Longfor , Logan , R&F Properties , China Vanke , China South City

, Hopson , Shimao , Agile and Sunac down 1.3% to 4%

** Citi says: "After three years of de-leveraging cycle, we think financial systematic risk seems to have bottomed, property sector health should improve and credit risk would further pare down to tolerable levels"

** Hang Seng Mainland Properties Index slips 0.5%; Hang Seng Composite Index up 0.2% and Hang Seng Index

adds 0.3%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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