The Hong Kong Stock Exchange has announced that shares of China's debt-laden Evergrande Group have been suspended from trading on Monday. The real estate giant says the halt is due to a pending announcement of a major transaction.
Stock exchange officials say shares of Evergrande's property management unit have also been suspended.
Evergrande has deadlines looming for large interest payments on corporate bonds. Investors are worried about the company collapsing and wreaking havoc on the economy.
Hong Kong's benchmark stock index fell more than two percent on Monday morning.
Market sources in Hong Kong say investors are waiting to see the details of the Evergrande's latest announcement.