(AF) Trading was temporarily halted in the bonds of troubled developer China Evergrande amid growing concern it doesn’t have the cash to pay contractors and suppliers, the Financial Times reported.
The heavily indebted company, which warned earlier this week it may default on a bond payment, blamed “negative reports” for the loss of confidence in its assets, some of whose prices fell beyond the 20% trading circuit-breaker, the report stated. Evergrande has been in trouble for months and has sought to sell parts of its business to lessen towering debts, the report added. Full report: Financial Times
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