Embattled Chinese property firm Evergrande soars 20% after trading resumes in Hong Kong

Posted on AllSides October 3rd, 2023
From The Center

An aerial view of construction sites and new residential developments in the Nanchuan area of Xining, Qinghai province, China. Shares of embattled Chinese property giant Evergrande surged Tuesday after it resumed trading in Hong Kong. The stock rose 20.31% after briefly touching 46 Hong Kong cents shortly after the open. Shares have been volatile since resuming trade in late August following a 17-month suspension. Evergrande's market valuation has been hovering around 5 billion Hong Kong dollars ($639.8 million), a fraction of its value prior to the developer's default in late...

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