Evergrande Withdraws Chapter 15 Bankruptcy Protection Applications in the US
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Asian shares were mostly higher on Monday, led by gains in Chinese markets following recent policy moves. Chinese regulators announced measures to support declining stock markets, leading to Chinese stocks leading Asia's gains . China Evergrande Group, a major Chinese property developer, has been ordered to undergo liquidation. Evergrande's overseas creditors failed to reach a restructuring deal, leading to the suspension of its shares from trading in Hong Kong . Evergrande has more than $300 billion in liabilities and can appeal the order . This news resulted in a jump in shares of Chinese property developers, with China Evergrande Holdings up 5.4% .
However, on Tuesday, Asian shares fell as concerns over the court-ordered liquidation of China's Evergrande Group and rising geopolitical t...
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