Read how Evergrande shares jumped in trading session 

Stock in crisis-hit Chinese real estate firm Evergrande has risen as trading in the company resumed after being suspended in Hong Kong.

Introduction

Evergrande, the Chinese property developer that faced financial difficulties in 2021, has once again suspended trading in its shares. This development comes as authorities are investigating the company’s billionaire founder.

Trading Suspension

On Thursday, Evergrande halted trading in its shares after confirming the investigation into its founder. The suspension marked the latest episode in the company’s financial challenges.

Share Price Surge

Interestingly, Evergrande’s shares experienced a significant surge of over 40% in early trading on Tuesday, only to close 28% higher. This surge in share prices followed the trading suspension and indicated investor volatility and uncertainty surrounding the company’s future.

Background: Previous Debt Default

It’s worth noting that Evergrande faced a debt default in 2021, which had significant repercussions on China’s property market and broader financial sector.

Recurring Share Trading Suspensions

The recent trading halt follows a previous 17-month trading suspension that was lifted just a month ago. The company’s turbulent financial situation and the investigations into its founder have led to these suspensions.

Statement from Evergrande

Evergrande issued a statement to the Hong Kong Stock Exchange during the National Day holiday, asserting that there is no additional inside information related to the company that needs to be disclosed at this time.

The ongoing challenges faced by Evergrande continue to be a topic of concern and interest for investors and financial analysts alike.