Trading in shares of Chinese developer Kaisa group and units suspended

Kaisa Prosperity Holdings

05/11/2021 01:00

HONG KONG, Nov 5 (Reuters) - Trading in shares of Chinese
developer Kaisa Group Holdings Ltd  1638.HK  and three of its
units was suspended on Friday, a day after the company said a
subsidiary had missed a payment on a wealth management product.
 urn:newsml:reuters.com:*:nL1N2RV0B3
    Kaisa's troubles come amid concerns about a deepening
liquidity crisis in the Chinese property sector, with a string
of offshore debt defaults, credit rating downgrades and
sell-offs in the developers' shares and bonds in recent weeks.

    

 (Reporting By Donny Kwok and Anne Marie Roantree; Editing by
Jacqueline Wong)
 ((annemarie.roantree@thomsonreuters.com; +852 97387151; Reuters
Messaging: annemarie.roantree.thomsonreuters.com@reuters.net))