Evergrande weightage leads China’s property developers to fall the most since December

Chinese property shares fell the most in nine months on concerns over the potential liquidation of China’s Evergrande Group, providing fresh signs of stress across the industry.

A Bloomberg Intelligence gauge of developer shares fell 6.9% on Monday, bringing its loss in valuation this year to more than $55 billion. Evergrande, which canceled meetings of major creditors at the last minute and said it should rethink its restructuring plan, fell 25%. China Aoyuan Group Ltd. was the biggest loser on the index, falling a record 76% after shares resumed trading after an 18-month halt.

Leave a Comment

“The Untold Story: Yung Miami’s Response to Jimmy Butler’s Advances During an NBA Playoff Game” “Unveiling the Secrets: 15 Astonishing Facts About the PGA Championship”