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Evergrande Falls by more than 80% in Hong Kong
Posted on 2023-08-28 11:06:14
And finally,

Crisis-hit Chinese developer Evergrande fell by more than 80-per cent after
its resumed trading in Hong Kong this morning.

Evergrande shares had been suspended from trading since March last year.

The company has posted losses of 4.5-billion U-S dollars in the first six
months of this year, in what analysts say is the latest sign of trouble in
China's property market.

Evergrande earlier this month filed for bankruptcy protection in the U-S to
protect its assets there.

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