China's influence on local market is growing-market across the board remains nervous and uncertain and to tend to volatile and they await clear indication on US tapering by the U.S Federal Reserve, US non-farm payrolls and news from China.Two of China's biggest listed property companies, namely Evergrande property group that became the world's most indebted real Estate group, and another Chinese property developer Hopson were suspended from trading on the Hong Kong stock Exchange.
Hong Kong Stock Exchange didn't give a reason, saying only on Monday that "due to the suspension of trading in the underlying shares, trading in future and options for China Evergrande group ( EVG) has been suspended till further notice.
It is the first time in the company's history that trading its shares have been suspended which is not good for the economy
The group is so big that some experts fear contagion risk for the Chinese Economy and beyond.
According to the media reports, the leadership in Beijing has called in local government to prepare the economic and social consequences of possible bankruptcy of the group. Evergrande has debt equivalent to more than 300 billion dollars. The liquidity crisis intensified after it failed to an 83,5, million dollar interest payment on an offshore Bond.
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