The company allegedly paid $34m in fines for work on the project that skirted environmental and zoning regulations during the years it was built. Dozens of buildings are earmarked for demolition.

Tokyo and Sydney piled on more than 2% apiece while Seoul, Mumbai and Bangkok were also up. But Hong Kong and Shanghai lost 1%, with Singapore, Wellington and Manila following them down

Fitch said weaker new home sales will weigh on developers' land replenishment. The ratings agency expects nationwide residential property sales to fall 10%-15% in 2022.

Evergrande shares slumped on Thursday after the developer's thinly detailed restructuring plan left investors dissatisfied, while its indebted peers also fell on concern over higher interest rates

Apple Inc achieved its highest-ever market share in China in the fourth quarter, when it was the top-selling vendor for the first time in six years

Financial authorities fear the boom in crypto trading could destabilise the economy and want to limit its impact on the economy.

Tencent Holdings plans to take DouYu International private amid disagreements over strategy, regulatory hurdles and a plunge in the company's share price, sources say

China Resources Land secured $3.64 billion in credit for real estate acquisitions on Wednesday, and other state developers completed bond sales worth 2.29bn yuan for the same purpose.

Hong Kong, Shanghai, Singapore, Wellington, Jakarta and Bangkok rose, while Tokyo, Seoul, Taipei and Manila edged down. Sydney and Mumbai were closed for holidays.

Chinese state-owned property firms are expected to acquire more assets from cash-strapped private developers, as Beijing steps up efforts to stabilise and tighten control over crisis-hit sector

Sources said Shein founder Xu was eyeing Singapore citizenship partly to bypass China's new and tougher rules on overseas listings, as it could ease the path to an offshore IPO

China's 2021 fiscal revenues rose 10.7% to 20.25 trillion yuan ($3.2tn). Vice Finance Minister Xu Hongcai said greater tax and fee cuts would be unveiled in 2022 to relieve pressure on economy