China Evergrande Group shares slid for a second consecutive session on Tuesday, dropping as much as 8% after a unit of the embattled property developer missed an onshore bond repayment.
shares slid for a second consecutive session on Tuesday, dropping as much as 8% after a unit of the embattled property developer missed an onshore bond repayment.
The news comes after Evergrande said on the weekend that it was unable to issue new debt due to an ongoing investigation into Hengda, sending Evergrande's share price plunging 22% on Monday. The missed payment is the latest setback to hit Evergrande, which has lurched from one crisis to another since its financial woes became public in 2021 and it defaulted on its offshore debt obligations later that year.
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