The share price of Evergrande, an embattled Chinese property developer, plummeted by as much as 17% today in Hong Kong trade as investors weigh up whether the group’s massive debt crisis could trigger a ripple effect across China’s real estate sector and financial system.
Evergrande, China's second-largest real estate company with $110 billion in sales last year, is by some estimates the most indebted property group in the world.
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