Evergrande trading closed

Evergrande shares were suspended in Hong Kong today after reports that its founder was under police surveillance. Shares of Evergrande, the company at the center of China’s real estate crisis, were suspended in Hong Kong today after reports that its founder was under police surveillance. No reason was given for the suspension. Bloomberg reported earlier this month that Evergrande Chairman Hui Ka Yan had been placed under police surveillance. The surveillance, unlike detention in China, is conducted in a person’s home and can last up to six months. It also does not mean Hui is facing charges. Evergrande shares fell 19 percent on Wednesday.