Evergrande Faces Liquidation After Hong Kong Court Order

Shares of China Evergrande were halted after a Hong Kong court ordered the liquidation of the embattled property developer, which has been grappling with a spiraling debt crisis. The ruling comes after Evergrande's overseas creditors failed to reach a restructuring deal, potentially leading to imminent liquidation. Policymakers in China have been implementing measures to address the cash crunch in the property sector, amid fears that the troubles in China's property market could have wider economic implications.