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Evergrande Trading Suspended in Hong Kong; Ronshine Auditor Resigns: Evergrande Update

China Evergrande Group and its other units were suspended in Hong Kong Monday pending an announcement containing “inside information,” according to exchange filings that didn’t elaborate further. The embattled developer may hold a call this week to brief investors on its debt restructuring plan, REDD reported. Elsewhere, Ronshine China Holdings Ltd. won’t meet a March 31 deadline to publish audited full-year results after it became the latest property firm to announce the resignation of its auditor. Ronshine’s stock and bonds plunged. Chinese high-yield dollar bonds traded flat to 2 cents higher with better quality names leading gains, according to credit traders. Property firms snapped a three-day stock rally, as the Bloomberg Intelligence gauge of developers fell 2.6%.

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