10/12/2021 (Tue) 23:00:42
>>17841>Evergrande, which is one of the world’s most indebted companies, has seen its shares tumble 75% this year. They fell by almost 10% on Thursday morning before recovering on reports that the authorities may allow the company to reset its debt terms.>Trading in one of the company’s bonds was suspended by the Shenzhen stock exchange after the price dropped 20%. After resuming trade, Evergrande’s January 2023 bond fell more than 30%, triggering a second trading freeze. >Chinese officials are expected to stem the spillover from liquidity issues at Evergrande, the country's largest property developer, before it slams the banking system and bleeds into foreign financial centers.>But strategists also say Beijing needs to act quickly to restructure Evergrande, because markets are becoming nervous and it is hurting sentiment.>The problems at the property developer could damage China's economy and from there also dent the world economy.