Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong ...Middle East

HONG KONG – Share trading of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange. The suspension comes after Bloomberg News reported that the chairman of Evergrande, Hui Ka Yan, had been taken away earlier this month and placed under police watch according to people with knowledge of the matter. Shares of Evergrande closed at 32 Hong Kong cents on Wednesday. The company had resumed trading on Aug. 28 after a 17-month hiatus. Evergrande is the world’s most heavily indebted real estate developer and is at the centre of a property market crisis that is dragging on Chi

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