Trading in Evergrande shares halted after chairman placed under police watch

Trading in Evergrande shares halted after chairman placed under police watch

An Evergrande sign is seen near residential buildings at an Evergrande residential complex in Beijing, China September 27, 2023. REUTERS/Florence Lo

Trading in shares of China Evergrande Group was suspended on Thursday after a report that its chairman had been placed under police watch, as concerns mounted about the cash-strapped developer’s future amid growing liquidation risk.

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