China Evergrande shares plunge more than 80% as trade resumes after 17 months

By Clare Jim

HONG KONG (Reuters) -Shares of China Evergrande Group shed 86.7% early on Monday when trading resumed following a 17 month suspension, after saying it had “adequately” fulfilled all guidance issued by the Hong Kong Stock Exchange.

Evergrande, the world’s most-indebted property developer, is at the centre of a crisis in China’s property sector that since late 2021 has seen a string of debt defaults.

Its shares listed in Hong Kong traded as low as HK$0.22 on Monday, with its market…

Read More