China Evergrande Group, which is the world's most indebted developer, has been ordered by a Hong Kong court to liquidate over $300 billion in liabilities.
By Jiahui Huang China Evergrande Group was ordered to liquidate after the indebted property developer failed to reach a restructuring deal with creditors,.
Evergrande’s shares halted trading on Monday after Hong Kong’s high court ordered the liquidation of the embattled Chinese property developer.
In Japan, the Nikkei 225 recovered 275.87 points, or 0.8%, to 36,026.94,
In Hong Kong, the Hang .
Asia Markets Mostly Rise | MENAFN COM menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Stocks advance, adding to a rebound last week on bets China will deliver more supporting measures. China Evergrande slumps after losing a winding-up litigation in Hong Kong.