Evergrande Liquidation: An Opportunity for China livetradingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livetradingnews.com Daily Mail and Mail on Sunday newspapers.
Two of China's major cities, Suzhou and Shanghai, followed Guangzhou in easing home-buying restrictions, in an effort to boost property sales as persistent weakness in confidence delays a recovery in the crisis-hit property sector. The eastern city of Suzhou completely relaxed home buying restrictions for new and resale home markets, according to state media The Paper on Tuesday.
"Trading in the shares of. Evergrande Property Services Group Limited has been halted at 10:19 a.m today," the city s stock exchange said. It also halted trading in its electric vehicle subsidiary at the same time.
Shares of China Evergrande Group, the world's most indebted property developer with about $300 billion in liabilities, plunged around 21 percent on Monday's regular trading after a Hong Kong court ruled to liquidate the Chinese property major after it failed to provide a convincing restructuring plan.