Shares of struggling Chinese real-estate developer Evergrande Group plunged 87 percent at one point on Monday, it first trading day in about 17 months.
Evergrande's shares briefly nosedived to as low as 22 Hong Kong cents on the Hong Kong Stock Exchange after sell orders soared when trading resumed early on Monday.
The outcome appears to reflect market concerns over the Evergrande Group against the backdrop of the prolonged downturn of China's real-estate sector.
Evergrande's shares briefly nosedived to as low as 22 Hong Kong cents on the Hong Kong Stock Exchange after sell orders soared when trading resumed early on Monday.
The outcome appears to reflect market concerns over the Evergrande Group against the backdrop of the prolonged downturn of China's real-estate sector.
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Summary
Chinese real-estate developer Evergrande Group experienced a significant stock drop of 87% on its first trading day in 17 months, reaching as low as 22 Hong Kong cents. This dramatic selloff occurred amidst market concerns over Evergrande's financial stability, coinciding with the ongoing downturn
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ID: d52b4d2c-80a5-416b-92f0-4cd5ac38bc36
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230828_31/
Date: Aug. 28, 2023
Created: 2023/08/28 19:32
Updated: 2025/12/09 00:30
Last Read: 2023/08/28 19:38