Evergrande shares plunge on market return as deal falls through | Malay Mail

BEIJING, Oct 21 — Chinese property giant Evergrande’s shares plunged today after resuming trading in Hong Kong, with the failure of a unit sale deal deepening fears the indebted firm will collapse and send shockwaves through the world’s second-largest economy.

In a stark assessment of its current state of trading, Evergrande said it had sold only 405,000 square metres of real estate throughout September and October so far — normally a peak period for sales. The Shenzhen-based company has missed several payments on dollar-denominated bonds, and a 30-day grace period on an offshore note is up on Saturday.Fears that Evergrande could collapse and send shockwaves through the Chinese economy have rattled buyers and markets — even though Beijing has insisted any fallout would be containable.

Hong Kong-listed Sinic Holdings became the latest to miss a payment, while mid-sized competitor Fantasia also failed to meet obligations in recent weeks.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Minister: Entrepreneurs who refuse Covid-19 vaccination will have problems conducting business in Malaysia | Malay MailKUALA SELANGOR, Oct 19 — Entrepreneurs and traders who refuse to be vaccinated against Covid-19 will face difficulty carrying out their business activities, said Entrepreneur Development and Cooperative Minister Tan Sri Noh Omar. He said this was because the vaccination status was one of the...
Source: malaymail - 🏆 1. / 86 Read more »