China Evergrande shares soar after property developer’s stocks resume trading

Last month, a former Chinese official estimated that even China’s 1.4 billion population would not be able to fill all the vacant homes across the country

(AP Photo/Ng Han Guan, File)

Shares of debt-laden property developer China Evergrande Group soared on Tuesday after they resumed trading in Hong Kong following a suspension last week.

By midday, Evergrande’s shares were up nearly 16% after jumping more than 60% early in the session.