> Chinese authorities likely to perform 'quiet rescue' of Evergrande: analyst / V000_9N78ZQ
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Chinese authorities likely to perform 'quiet rescue' of Evergrande: analyst / V000_9N78ZQ
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Chinese authorities are likely to perform a "quiet rescue" of indebted property giant Evergrande, says Kelvin Wong, a Market Analyst at CMC Markets in Singapore.
Fears of contagion from the potential collapse of battered Chinese real estate giant Evergrande sent property shares plunging in Hong Kong on Monday, with the firm expected to default on upcoming interest payments this week.
The firm, one of the country's biggest developers, is on the brink of collapse as it wallows in debts of more than $300 billion. IMAGES AND SOUNDBITES