Stock Groups

Developer China Evergrande’s shares set to rise 6.6% as restructuring looms -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – The logo of China Evergrande Group can be seen at the Shenzhen headquarters in Guangdong, China, September 26th, 2021. REUTERS/Aly song/File photo

HONG KONG (Reuters – China Evergrande Group shares are set to climb 6.6% on Tuesday, as the troubled developer makes progress towards a restructuring process that has been looming over the global market and China’s second largest economy.

Evergrande stock hit a new record on Monday and was expected to rise at HK$1.93.

On Monday, the world’s largest developer declared that it has established a committee to manage its risk. This included representatives from the state who would help “mitigating or eliminating future risks” for the group.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]