Trading in shares of debt-laden China Evergrande have been suspended by the Hong Kong exchange after it missed a key bond interest payment.
With liabilities equal to 2% of China’s GDP, Evergrande has sparked concerns its woes could spread through the financial system and reverberate around the world.
The cash-strapped group said on 30 September that its wealth management unit had made a 10% repayment of wealth management products, which are largely owned by Chinese retail investors, that were due by the same date.
