Global markets brace for Evergrande collapse

Global stock markets held firm yesterday despite reports that Chinese officials are braced for the potential collapse of Evergrande. The developer has been instructed to prioritise completion of properties, but it is unclear whether Beijing will bail out Evergrande if it fails to meet its obligations. Leading share indices around the world stabilised after sinking earlier in the week, driven down by the threat of a collapse of Evergrande. Wall Street opened higher yesterday and the FTSE 100 was broadly flat, closing down 5.02 points, or 0.7%, at 7,078.35. The Times (£) To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews