Evergrande shares suspended and executives rounded up

Chinese authorities have rounded up a number of senior Evergrande Group executives as its shares are suspended. The embattled Chinese property giant suspended share trading on the Hong Kong stock exchange only a month after it resumed trading after a 17-month suspension. Trading in its two other units – the property services and electric vehicle groups – also stopped at 9am on Thursday, according to notices posted by the stock exchange. The rags-to-riches billionaire founder and chair of the developer, Hui Ka Yan, once said to be Asia’s richest man, was placed under house arrest yesterday. Pan Darong, a former chief financial officer, has been formally detained, according to Caixin, China’s biggest financial news website, and the former chief executive Xia Haijun is also under house arrest. The Times (£)The Guardian