Troubled Chinese real estate giant Evergran0nde and all its units suspended operations on the Hong Kong stock exchange Monday morning, according to a market advisory.
The company did not give an explanation for the suspension.
“All structured products of the company will also be suspended from trade,” said the notice to the Hong Kong stock exchange.
Chinese real estate firms have faced difficulties with government measures to curb the sector's excessive indebtedness and growing consumer speculation.
Evergrande, one of China's leading real estate developers, was affected by the measures as it negotiates the restructuring of its $300 billion debt.
Monday's suspension is the second this year, and it comes before the due date on Wednesday of a $2 billion payment and another of $1.4 billion in April.
Classification agencies said in December that the company went into default after it was unable to pay its commitments on time.
The firm assured that it will conclude its projects and deliver them to buyers in a desperate attempt to save their debts.
But in January, the company was ordered to demolish 39 buildings on Hainan Island because they were illegally built on the tourist site.
The Evergrande crisis has affected the entire Chinese real estate sector, and some smaller companies also defaulted with their loans while others struggle to secure financing.
The International Monetary Fund warned in January that the housing crisis would have effects on the entire Chinese economy and world markets.
dhc/mtp/but/yow
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
