China
China’s Evergrande resumes Hong Kong trading
Evergrande, a troubled Chinese property giant, resumes stock trading in Hong Kong, a symbol of the country’s property crisis, raising concerns about its impact on the economy.
![](https://gutzymedia.s3.ap-northeast-2.amazonaws.com/wp/2023/08/17062934/33RD8HT-preview-1-1.png)
HONG KONG, CHINA — Heavily indebted Chinese property giant Evergrande resumed trading in Hong Kong on Tuesday, according to a statement on the stock exchange’s website.
“Trading in the shares of China Evergrande Group will be resumed at 9:00 am today,” the statement said.
A separate statement said trading for Evergrande Property Services would also re-start at the same time.
Tuesday’s resumptions follow an application notice late Monday, though there was no such request for the electric vehicle unit.
Evergrande has become a symbol of China’s ballooning property-sector crisis that has seen several high-profile firms engulfed in a sea of debt, fuelling fears about the country’s wider economy and a possible spillover globally.
The real estate behemoth announced last Thursday its chief was suspected of “illegal crimes” following the suspension of its shares from trading that day.
Thursday’s announcement to the exchange came a day after media reports that boss Xu Jiayin was being held by police.
No specific reason was given for the decision to suspend share trading, which also affected the company’s property services and electric vehicle units.
— AFP
![](https://gutzy.asia/wp-content/uploads/2023/10/Gutzy-Logo-whiteS.png)
-
Singapore3 days ago
Dr Tommy Koh: “INCOME and Fairprice should never be sold”
-
Business1 day ago
Concerns over conflict of interest and corporate governance arise in Income’s sale to Allianz
-
Singapore2 weeks ago
Youngest self-radicalised Singaporean and 33-yr-old former public servant issued restriction order under ISA
-
Comments2 weeks ago
Voters interviewed at West Coast GRC, expressed hope for PSP representation in Parliament
-
Singapore2 weeks ago
Singapore’s birth rates decline by 5.8% as total fertility rate drops below 1
-
International2 weeks ago
Attempted assassination at Donald Trump rally in Pennsylvania: Shooter and one attendee dead, two critically injured
-
Singapore1 week ago
AGO Report reveals lapses in MOE’s school projects; Police report filed over possible falsifications
-
Singapore1 day ago
NTUC Enterprise Chairman assures affordable insurance for lower-income customers amid Allianz deal concerns