HONG KONG : Shares of China Evergrande Group fell 5.7per cent to HK$1.67, lowest since Jan. 19, after the debt-laden developer said it targets to have a restructuring proposal within six months.
That compared to a 2per cent drop in the benchmark Hang Seng Index and a 3.4per cent decline in the Hang Seng Mainland Properties Index. The long-awaited communication comes against the backdrop of Beijing tightening control over the property developer, while taking measures to stabilise China's crisis-hit property sector.
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