Evergrande resumes downward spiral as investors face crisis ...Qatar

Investor doubts over China Evergrande Group intensified on Monday as a creditor’s successful demand to freeze some assets underscored concern that the embattled developer may struggle to raise funds. The company’s shares plummeted 16% to close at a four-year low in Hong Kong, while its listed electric vehicle unit sank 19%. Some of Evergrande’s local bonds fell to record lows. A Chinese court froze a 132mn yuan ($20mn) deposit held by Evergrande’s main onshore subsidiary, Hengda Real Estate Group, at the request of China Guangfa Bank Co, according to a court ruling released on July 13 that circulated among traders over the weekend. Evergrande said in response it will sue Guangfa Bank, with

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Last updated : 19 July 2021 clock 10:15 PM

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Evergrande resumes downward spiral as investors face crisis ...Qatar

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