China Evergrande's Shares Plummet Over 80% as Trade Resumes After 17-Month Hiatus

China Evergrande Group, the world's most-indebted property developer, lost almost $2.4 billion in value as trading resumed after a 17-month suspension. The company is at the center of a crisis in China's property sector, with a string of debt defaults. Evergrande's plan to restructure nearly $32 billion of offshore debt obligations will be decided by courts next month. The resumption of trading is crucial for Evergrande as it is part of its offshore debt restructuring plan. The company reported a narrower net loss for the first half of the year but faces challenges in its operations and share performance.