The Hong Kong stock exchange slowed down at the start of the session in the wake of the new turbulence in the real estate sector triggered by the liquidation request presented against Country Garden, the main real estate developer: the Hang Seng index initially lost 0.11%, to 16,772.95 points.
Country Garden (-5.56% to 0.68 HK dollars) risks the same end as Evergrande, officially in liquidation since the end of January following the order of the High Court of the former British colony.
China's largest private real estate developer said it is facing a creditor's liquidation claim over the failure to repay a loan worth HK$1.6 billion (about US$205 million).
The group, already indefault, has total debts of over 200 billion dollars.
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