China Evergrande shares tumble 25% after wealth management staff detained

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Shares of China Evergrande Group, the world's most indebted property developer, dropped 25% after police detained staff at its wealth management unit. The investigation adds to the company's troubles, as it is already at the center of a crisis in China's real estate sector. Evergrande has faced a string of defaults since late 2021, causing concerns about contagion and rattling global markets.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wWX0IDC

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