SHANGHAI—Bonds issued by heavily indebted developer China Evergrande Group plunged on Monday over growing investor worries about the company’s ability to pay its debts, prompting China’s stock exchanges to halt trading.
The Shanghai Stock Exchange said in a statement that it had temporarily suspended trading in China Evergrande Group’s 6.98 percent July 2022 corporate bond following “abnormal fluctuations.” The exchange had also suspended trading in the bond on Friday, Sept. 3.
