Asian shares mixed after Evergrande sale deal called off

Asian shares are mixed after major Chinese property developer Evergrande said a plan to sell its property management arm to a smaller rival had fallen through

Shares are mixed in Asia after major Chinese property developer Evergrande said a plan to sell its property management arm to a smaller rival had fallen through.

Shares slipped in Hong Kong, Seoul and Tokyo, while they rose in Australia and Shanghai.

China Evergrande Group's shares tumbled 12.5% while shares in Evergrande Property Services slipped 8%. In a notice to the Hong Kong exchange Evergrande said it was having difficulties selling off assets to resolve its cash crunch.

Hopson Development Holdings' shares rose 12.4% after it said was unable to complete the purchase. Trading of shares in all three companies was suspended pending a resolution of the transaction.