The economic situation in China is alarming as the stock market is looking at a scenario of a possible collapse. Its largest real-estate giant Evergrande has been ordered to liquidate $300 billion in assets by a Hong Kong court. Trading for Evergrande is now halted after it fell like a pack of cards shedding more than 20% a day. The losses are deep after Evergrande’s collapse and that is affecting China’s broader stock market. The Shanghai Stock Exchange (SSE) and Hang Seng Index (HSI) are facing the heat of a possible fall that could be drastic.
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China’s stock market entered 2024 on the back foot as it witnessed a significant decline in the charts. The Hong Kong stock markets reached multi-year lows last month causing investors to lose confidence. In addition, foreign capital experienced an exodus with funds exiting the country last month….
