Evergrande

The developers stock sank by as much as. Its main business is in real estate and its Chinas second-largest property developer by sales.

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A looming default by Chinese property developer Evergrande.

Evergrande. Evergrande is everywhere. It is the non-COVID non-inflation risk that has been lurking in the global backdrop for months. Evergrande the worlds most indebted property developer is crumbling under the weight of more than 300 billion of debt and warned more.

Shares in Evergrande 3333HK which has been scrambling to raise funds to pay its many lenders suppliers and investors closed down. Evergrande needs to pay a 232 million yuan 36 million coupon on an onshore bond the same day.

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