Chinese shares dropped as banks in the country cut interest rates less than expected, with the benchmark one-year loan prime rate being lowered by 0.1 percentage point to 3.45%.
Evergrande's shares plummeted by over 80% as they resumed trading in Hong Kong, following the company's announcement of a $4.5 billion loss for the first half of the year, exacerbating concerns about China's real estate market crisis.
Evergrande Group, the highly indebted Chinese real estate developer, has reported a narrower net loss for the first half of the year thanks to a rise in revenue driven by the property market's short-term boom, despite the company facing financial struggles and applying for bankruptcy in the US.
Shares of Tesla Inc. dropped 5.0% after the company reduced prices in China for the second time in two weeks, despite experiencing overall volatility this year.
Shares of Chinese property developer Evergrande surged as much as 82% on Wednesday, leading gains on the Hang Seng Index, following reports of successful bond coupon payments by Country Garden, signaling a potential recovery in the country's property sector.
Apple shares fell nearly 3% in response to China's plans to expand a ban on iPhones to government-backed agencies and state companies, resulting in a $200 billion market value loss in just two days.
The Hong Kong-listed shares of Alibaba Group fell over 4% after the surprise departure of former CEO Daniel Zhang from the company's cloud computing business.
Shares in crisis-hit China Evergrande have plunged by up to a quarter after the apparent detention of staff by police, reigniting concerns about the state of the company and China's wider property sector.
Shares of Evergrande, the embattled Chinese real estate firm, plummeted 25% after announcing a delay in its debt restructuring meeting, causing a sell-off in the sector and turning Evergrande into a penny stock.
Shares in Evergrande closed down 7% on Tuesday after the embattled property developer missed another bond payment, raising concerns about the company's ability to restructure its debt and the potential for a disorderly collapse that could damage China's wider economy.
Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.
Shares of Chinese real estate giant Evergrande have surged after trading in the company resumed in Hong Kong following a temporary suspension, amidst investigations into its billionaire founder and a default on its debts, triggering a property crisis in China.
Shares of BlackRock fell around 1% despite beating third-quarter profit estimates, as the asset manager's net inflows dropped and it signaled an increased interest in acquisition targets.
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