© Reuters. FILE PHOTO: A building web site by Chinese property developer Kaisa Group is seen at an space of downtown Shanghai, February 17, 2015. REUTERS/Carlos Barria
HONG KONG (Reuters) – Trading in shares of Chinese developer Kaisa Group Holdings Ltd and three of its units was suspended on Friday, a day after the corporate mentioned a subsidiary had missed a cost on a wealth administration product.
Kaisa’s troubles come amid issues a couple of deepening liquidity disaster in the Chinese property sector, with a string of offshore debt defaults, credit standing downgrades and sell-offs in the builders’ shares and bonds in latest weeks.
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