SHANGHAI: Evergrande Real Estate Group Ltd shares dropped as the Chinese developer said its debt mounted last year to fund acquisitions, raising concerns it will be able to maintain sustainable growth.
The stock fell as much as 1.8% in Hong Kong, the biggest intraday decline in two weeks, and traded 0.7% lower at HK$5.96 as of 1:43pm local time yesterday. That compares to a 2.3% increase in the Hang Seng Property Index.
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