
Evergrande's debt crisis is wreaking havoc on Hong Kong's stock market
CNN
Evergrande's debt crisis is continuing to unsettle investors in Asia and raising concerns about whether a potential default by the troubled Chinese conglomerate could spill over to other parts of the economy.
Shares of Evergrande Group plummeted 10% in Hong Kong on Monday, hitting just 2.28 Hong Kong dollars ($0.29) per share. The stock has shed 84% so far this year, plunging below its 2009 IPO price of 3.5 Hong Kong dollars ($0.45).
The Hang Seng Index (HSI) on Monday dropped 3.3%, suffering its worst decline in nearly two months, as Chinese banks, insurers and other real estate companies were slammed.

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