Posted inChina

Report sends shares in China developer tumbling

China’s second-biggest property developer Evergrande saw its shares tumble Friday following reports claiming it was seeking government help to avoid a cash crunch, despite the firm dismissing the claims as “pure defamation.” China Evergrande Group’s shares fell 9.46% in Hong Kong, closing at HK$13.78 (US$1.78), after an unverified letter circulating on Chinese social media appeared […]