Stock was suspended after report billionaire founder Hui Ka Yan was under police surveillance
Shares in the embattled Chinese property developer Evergrande jumped after trading resumed in Hong Kong after their suspension last week.
Shares soared more than 40% early on and closed up 28%. Trading in Evergrande and its property services and electric vehicle subsidiaries was suspended on Thursday, after a Bloomberg report that the company’s billionaire chairman and founder, Hui Ka Yan, was under police surveillance. On Friday, the company said he was being investigated over suspected “illegal crimes”.
About Author
More Stories
Italy seeks to protect restaurants and hotels from fake and paid-for reviews
Bodies recovered from illegal goldmine in South Africa where many feared dead
US sues Elon Musk for allegedly failing to disclose early Twitter stock purchase