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.
China Evergrande Group, the heavily indebted real estate developer, is set to resume trading on Monday after a 17-month suspension, following a reported loss of $4.5 billion in the first half of the year.
Shares of Chinese e-commerce giants Alibaba and JD.com surged after the Chinese government announced measures to boost the country's capital markets, including halving the stamp duty on securities transactions.
Chinese stocks initially surged on Monday after the government implemented measures to boost investor confidence, but most of the gains were lost by the end of the session due to concerns about the country's economic slowdown and the foreign outflow of funds.
Shares of Chinese automaker BYD listed in China surged over 5% following a significant jump in first-half profit, driven by record deliveries and growth in the new energy vehicle business, with revenue increasing by 72.72% compared to the same period last year.
Shares of India's Aeroflex Industries surged 82% in their trading debut before settling 51% higher, making it the latest stock to notch up strong gains in first-day trading.
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.
Shares of China Evergrande Group fell 25% after police detained staff at its wealth management unit, adding to the embattled developer's troubles amidst China's real estate crisis.
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.
U.S. stocks were mixed with the Dow Jones slipping 0.2%, the S&P 500 unchanged, and the Nasdaq Composite adding 0.22%, while oil prices surged to their highest in over a year and shares of China Evergrande Group were suspended after reporting significant losses, all raising concerns and making it difficult for stocks to gain confidence to climb.
China's real estate giant Evergrande is facing a series of setbacks, including a suspension of trading and investigations into its executives, raising concerns about a potential liquidation and the negative impact on China's economy.
Chinese property firm Evergrande sees a jump in shares after trading resumes, despite facing scrutiny over suspected crimes.