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Stocks advance, adding to a rebound last week on bets China will deliver more supporting measures. China Evergrande slumps after losing a winding-up litigation in Hong Kong.
HONG KONG: A Hong Kong court on Monday ordered the liquidation of property company China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain the deepening crisis.
The lawsuits, which also name China Evergrande's other units including Hengda Real Estate, come ahead of a high-profile case on Monday where a judge will decide whether to liquidate the embattled Chinese property developer.
Evergrande Property Services said on Friday its units have started legal proceedings against parent China Evergrande and Hengda Real Estate, among others, with the Guangzhou Intermediate People's...
Evergrande unit starts legal proceedings against parent