"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 debt-laden property developer China Evergrande Group soared Tuesday after they resumed trading in Hong Kong following a suspension last week.
The news comes after Evergrande said on the weekend that it was unable to issue new debt due to an ongoing investigation into Hengda, sending Evergrande s share price plunging 22% on Monday.
Evergrande, the world s most indebted property developer, is at the centre of a crisis in China s real estate sector that has seen a string of defaults since late 2021 that have rattled global markets and sparked fears of contagion. Trading in the company s stock was suspended for 17 months until Aug. 28.