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Wednesday, May 8, 2024

China’s Evergrande resumes Hong Kong trading

Evergrande estimated it had debts of $328 billion at the end of June

HONG KONG – Shares in Chinese property giant Evergrande rose as trading resumed on Tuesday, following a suspension last week when the heavily indebted company announced its boss was under criminal investigation.

The firm has become a symbol of China’s ballooning property-sector crisis, which has seen several high-profile firms engulfed in a sea of debt, fuelling fears about the country’s wider economy…

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