DW News published this video item, entitled “Housing crisis in China: Evergrande shares tank after re-entering trade | DW News” – below is their description.
Shares in struggling Chinese developer Evergrande tanked more than 12 percent as it resumed trading in Hong Kong… share trading had been suspended for 17 days to allow the planned sale of its property services arm. Evergrande is the world’s most indebted property firm and faces a series of bond defaults, raising the possibility of contagion for the Chinese economy.DW News YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: Hong Kong
Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.
Asia tightens borders as spread of new coronavirus variant Omicron clouds region’s return to travel
LIVE: Market Coverage – Monday November 29 Yahoo Finance
New Covid strain sparks fear in markets — Here’s how to invest now