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China's Evergrande halts trading amid reports of detained bosses

www.bbc.com China's Evergrande halts trading amid reports of detained bosses

The stricken Chinese property giant suspends trading as reports emerge of its chairman being taken.

China's Evergrande halts trading amid reports of detained bosses

Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.

It follows reports earlier this week that other current and former executives had also been detained.

Thursday's market statement did not give a reason for the trading halt.

But it marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis.

In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.

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