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MNI BRIEF: HKex Suspends Evergrande Share, Products Trade

SINGAPORE (MNI)

The Hong Kong stock exchange announced the suspension on Monday morning.

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Trading in shares and structured products for China Evergrande Group were suspended on Monday by the Hong Kong stock exchange with mainland markets shut through most of this week for a public holiday.

"Trading in the shares of China Evergrande Group will be halted at 9:00 a.m. today (Monday). Accordingly, all structured products relating to the Company will also be halted from trading at the same time," an exchange notice said.

The exchange did not provide a reason for the trading halt. Evergrande's shares and debt prices have plummeted in the past two months on market concerns the highly indebted property developer could default on payment.

The company did not issue a statement on its website as of early Monday.