Hong Kong’s Hang Seng plunges 4% as Evergrande shares fall 17%...


Hong Kong’s Hang Seng led losses among Asia-Pacific markets in trading Monday, September 20th, with shares of Chinese developer Evergrande continuing to slide.

Hang Seng was down 3.87% by Monday afternoon, China Evergrande Group shares tumbled nearly 17%, and Hang Seng Properties dropped to a 52-week low.

The MSCI Asia Pacific Index outside Japan fell 1.8%.

Evergrande, the second largest real estate company in China and the most indebted in the world, threatens Asian and global financial markets, affected by its collapse due to a liquidity crisis.

Markets in mainland China, Japan and South Korea are closed on Monday for holidays.





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