Stocks Suspended; Home Sales Slump Deepens: Evergrande Update
This article is for subscribers only.
Embattled Chinese developers, including Sunac China Holdings Ltd. and Shimao Group Holdings Ltd., were among stocks that were suspended Friday after missing a deadline to report annual results.
Recent Covid outbreaks coupled with auditor changes are forcing dozens of Hong Kong-listed firms to postpone their earnings. Meanwhile, China’s home sales slump deepened in March, keeping pressure on cash-strapped builders even as policy makers vow to support the property market.