March 21, 2022
1 min read

Evergrande halts trading on Hong Kong stock exchange

Experts believe that a high-risk business model and Beijing’s actions to curb the boom in the Chinese housing market brought the company into crisis….reports Asian Lite News

Trading in the shares of China’s major property developer, Evergrande Group, was suspended on the Hong Kong stock exchange on Monday.

The suspension is the second one this year and comes ahead of the Wednesday USD 2 billion repayment obligation.

Trading in Evergrande shares (stock code 03333) is being suspended starting 9:00 a.m. on March 21 and all structured products relating to the company will also be halted from trading at the same time, Sputnik reported citing a notice to the stock exchange. So far, no specific reason was given for the decision. Last year, Evergrande was on the brink of default after years of growth and active borrowing.

Experts believe that a high-risk business model and Beijing’s actions to curb the boom in the Chinese housing market brought the company into crisis.

The developer is reeling under more than USD 300 billion of total liabilities, including about USD 19 billion in offshore bonds held by international asset managers and private banks on behalf of their clients, reported CNN.

Earlier, government officials were sent in to the company to oversee a restructuring, but there’s little clarity about what comes next. Evergrande has appealed for more time, but some lenders appear unwilling to wait. (ANI)

ALSO READ: China faces flak for ‘shoddy’ quality projects in Africa

Previous Story

Good Earth to celebrate Indian heritage and tradition of craft

Next Story

More Russian assassins in Ukraine to kill Zelensky: Report

Latest from -Top News

No Talks Till Terror Ends: India to Pakistan

The MEA’s strong response came at a time when Pakistan, pushed on the backfoot by India’s decisive Operation Sindoor, has suddenly started talking about its intent on having peace talks with India….reports

BNP ramps up poll demand

Chief Adviser Yunus had earlier promised elections in December 2025, but the timeline has since been pushed back first to February 2026 and then to June 2026, fuelling suspicion and dissatisfaction among

Saudi backs India’s strategic outreach

In a series of engagements, the Indian delegation met Saudi Arabia’s Minister of State Adel Al-Jubeir and other senior officials. A high-profile Indian all-party parliamentary delegation, led by BJP MP Baijayant Jay

India clears stealth fighter project

New execution model paves way for private sector involvement in India’s ambitious stealth aircraft programme; Army showcases next-gen drone warfare systems. In a landmark decision bolstering India’s defence self-reliance, Defence Minister Rajnath

ASEAN lauds India’s firm stance on terrorism

The ASEAN Secretary-General reaffirmed the bloc’s resolve to deepen collaboration with India—a comprehensive strategic partner—in security and counter-terrorism efforts. The Indian all-party Parliamentary delegation, led by Janata Dal (United) MP Sanjay Jha,
Go toTop

Don't Miss

Beijing intervenes to prevent disorderly collapse of Evergrande

Fitch Ratings had declared on Thursday that the embattled property

China’s property woes deepen with Evergrande’s bankruptcy

A sudden shift in policy by China’s leaders two years