China Evergrande shares fell 12.5 percent on Thursday, its first day of trading after a halt that lasted more than two weeks.
The plunge came after a deal to sell some of its assets to Hopson Development Holdings fell through.
Evergrande had said late Wednesday that since selling its US$1.5 billion stake in Shengjing Bank in late September, “there has been no material progress on sale of assets of the Group”.
Elsewhere in Asia, the Nikkei 225 plunged 1.9 percent but the Shanghai Composite rose 0.2 percent.
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