The Hong Kong Stock Exchange has announced that shares of China's debt-laden Evergrande Group were suspended from trading on Monday. The real estate giant says the halt is due to a pending announcement of a major transaction.
Officials at the exchange say shares of Evergrande's property management unit were also 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.
Market sources say investors are waiting to see the details of Evergrande's latest announcement.