Evergrande shares fall on market return

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The fear has been turned down “only a notch” after Evergrande shares were down by 10 per cent on the opening of the Hong Kong stock market on Thursday, according to Sky News Business Editor Ross Greenwood.

“The reason is because this company has got some $400 billion worth of debt, it’s China’s largest property developer, it has been the main stay for many Chinese people to actually try and get their foot onto the property

run,” Mr Greenwood told Sky News Australia.“The share price is basically fallen by 10 per cent on the opening today after a statement from the company, it has been suspended from trading for about the last two and a half weeks.”

 

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