Associated Press

Asian markets mixed; China Evergrande shares suspended

Asian markets were mixed on Monday, with Hong Kong’s benchmark down more than 2% after troubled property developer China Evergrande’s shares were suspended from trading. China Evergrande did not say why it halted trading of its shares, but a Chinese financial news service, Cailian, said another major developer was planning to buy Evergrande’s property management unit. Evergrande is struggling to make payments on more than $300 billion of debt as it endures a cash crunch brought on by a tightening of Chinese government restrictions on debt-leveraged financing.


Please enter your comment!
Please enter your name here