Benzinga | Sep 21, 2021 09:19AM EDT

Chinese Stocks Gain Steam As Citi, Barclays, UBS Discount Evergrande Crisis Compared To Lehman

* Citigroup Inc (NYSE: C), Barclays PLC (NYSE: BCS), and UBS Group AG (NYSE: UBS) strategists have discounted the magnitude of Evergrande Property (OTC:EVGPF) (OTC:EVGPY) crisis relative to the Lehman Brothers debacle, Bloomberg reports.

* Barclays cited the dissimilarities in the market environment during the crises.

* UBS highlighted the lower default levels versus the size of China's economy.

* Citi sees the policymakers stepping in. Jefferies Financial Group Inc (NYSE: JEF) also perceived limited impact.

* Growing investor anguish about Evergrande and China's real-estate sector affected the global risk assets this week, affecting stocks with less tangible links to China.

* S&P Global Ratings warned against default by the distressed developer without China's government support.

* Alibaba Group Holding Ltd (NYSE: BABA) shares traded higher by 0.14% at $151.70 in the premarket session on the last check Tuesday. Baidu Inc (NASDAQ: BIDU) was up 1.08% at $156.17, JD.com Inc (NASDAQ: JD) was up 0.46% at $74.49, DiDi Global Inc (NYSE: DIDI) was up 1.68% at $7.88.