Embattled Chinese property developer Evergrande suspended trading in Hong Kong as the heavily indebted company contends with an ongoing real estate crisis.
New Delhi Embattled Chinese property developer Evergrande suspended trading in Hong Kong on Monday as the heavily indebted company contends with an ongoing real estate crisis.
Evergrande said in a filing to the Hong Kong Stock Exchange that its trading halt was pending an"announcement containing inside information," though it did not elaborate. The company has about $300 billion in total liabilities, and analysts have worried for months about whether a collapse could trigger a wider crisis in China's property market, hurting homeowners and the broader financial system.
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