Property

Evergrande suspends trading after founder’s arrest

World’s most indebted developer sits at the centre of a years-long property crisis that has hurt the Chinese economy

The company faces an October 30 hearing at a Hong Kong court on a winding-up petition, which could potentially force it into liquidation

Evergrande Group, the Chinese developer has suspended trading in Hong Kong, a day after people familiar with the matter said the property giant’s founder had been taken away by police.

No reason was given for the halt in a notice to the Hong Kong stock exchange on Thursday that relates to Evergrande and related trading units.

Evergrande founder and chairman Hui Ka Yan was taken away earlier this month and is being monitored at a ...