HONG KONG (Reuters) – Shares of embattled developer China Evergrande Group plunged 25% on Monday after police detained some staff at its wealth management unit, suggesting a new investigation that could add to the property company’s woes.
The stock was down 25% at HK$0.465 in early morning trade, the lowest in two weeks.
(Reporting By Donny Kwok, Editing by Anne Marie Roantree and Muralikumar Anantharaman)