Shares in China developer Evergrande tumble after report of cash crunch | Malay Mail

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BEIJING, Sept 25 — China’s second biggest property developer Evergrande saw its shares tumble today following reports claiming it was seeking government help to avoid a cash crunch, despite the firm dismissing the claims as “pure defamation.” China Evergrande Group’s shares fell 9.46 per...

Friday, 25 Sep 2020 06:39 PM MYT

China Evergrande Group’s shares fell 9.46 per cent in Hong Kong, closing at HK$13.78 , after an unverified letter circulating on Chinese social media appeared to show the company asking the government in Guangdong for support for a reorganisation. Shanghai’s stock exchange briefly suspended trading in Evergrande’s three bonds due to “unusual fluctuations”.

 

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