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The troubled developer cancelled a $19 billion debt restructuring. Investors in its bonds say the move could ripple through the entire sector.
China’s debt-ridden property sector and high interest rates across the globe point to bad news for the Aussie economy, the IMF has warned.
China's economy is headed for a soft bottom soon or a balance-sheet recession, according to TS Lombard.
Shares of debt-laden property developer China Evergrande Group soared Tuesday after they resumed trading in Hong Kong following a suspension last week. Evergrande is the world’s most heavily indebted real estate developer and is at the center of a property market crisis that is dragging on China’s economic growth. The company’s stock was suspended from trading last week as it confirmed Chinese police were investigating its chairman, Hui Ka Yan, on “suspicion of illegal crimes.”