A sell-off in China Evergrande’s shares and bonds deepened after sales at two of its projects were temporarily halted, adding to a market rout that has wiped about $4bn off the value of the highly-indebted developer.
Evergrande’s Hong Kong-listed shares tumbled 10 per cent to a four-year low on Tuesday, adding to a fall of 16 per cent on the previous day.
The sharp decline in the shares comes as a crescendo of issues for the company has alarmed investors during a period in which Chinese government scrutiny of its debt levels has also increased.
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