LONDON (Reuters] – Chinese property businesses saw their battered bond bonds secure a strong weekly bounce last Friday. But one noteworthy absentee was China Evergrande Group.

There has been a flurry in asset sales and shares placings this week, which includes some Evergrande share placements. This raises hopes that the sector, which is heavily indebted, will not be plunged into a crisis full-scale and can finally stabilize.

China’s largest property developer Country Garden was among Friday’s winners. His bonds had nearly returned to par or 100cs on the dollar after falling to 80cs last week as a result of a sectorwide slump.

Shimao was also notable for its rebound. Its bonds completed a yo-yo back up to 90 cents having plunged to around 70 last week in a breakneck fall capped when S&P Global (NYSE:) stripped it of its prized investment grade credit rating.

According to market watchers, the rebound can be attributed to the relief at firms being able to raise funds via asset sales and share placements this week.

According to two sources, Country Garden Services Holdings was the top property development company in China and raised $1 million on Thursday via share placements.

Sunac China was one of the four top developers in China. Evergrande agreed to buy its entirety in streaming service firm HengTen, for HK$2.13 trillion ($273.5 Million).

Evergrande’s bonds are still rooted at 23-29 cents on each dollar this week. This is a 71%-77% decrease from what they had been worth back in May as the Chinese property sector was experiencing difficulties.

S&P cautioned this week that Evergande, the world’s most indebted developer with around $19 billion of international market bonds and $300 billion of liabilities altogether, was still “highly likely” to default as it has $3.5 billion to repay in March and April next year alone.

This story fixes a spelling mistake in the first paragraph.