CHINA CONTAGION AS EVERGRANDE ORDERED TO LIQUIDATE [MARKET ULTRA #42 02.06.24 @7AM]

MARKET ULTRA
LIVE FROM AMERICA
TUESDAY FEBRUARY 6, 2024
EPISODE - #42 7AM

A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Grou
, dealing a fresh blow to confidence in the country's fragile property market as policymakers step up efforts to contain a deepening crisis.

Justice Linda Chan decided to liquidate the world's most indebted developer, with more than $300 billion of total liabilities, after noting Evergrande had been unable to offer a concrete restructuring plan more than two years after defaulting on its offshore debt and following several court hearings.

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