Sunac China shares plunge
Sunac China shares plunge after liquidation petition filed against developer
Sunac China shares dropped as much as 30% on Friday after a liquidation petition was filed against the indebted developer, making it the latest company to face such a move amid an unprecedented debt crisis in China's property sector.
Sunac China Shares Fall Sharply After Receiving Winding-Up Petition
Shares of Chinese property developer Sunac China tumbled after the company received a winding up petition as the country continues to struggle with its property sector downturn. Shares fell 24% to 1.33 Hong Kong dollars, or equivalent of 17 U.S. cents, on Friday's afternoon trading.
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