The offshore bond market responded positively to news that Evergrande reportedly had made payments to domestic creditors.
The Shanghai-based firm has total liabilities of $1.01billion as impact of China Evergrande’s struggles continues to be felt across country’s property sector
Sinic Holdings became the latest developer to be downgraded, while homebuilder Fantasia Holdings' dollar bonds lost nearly half their market value in a selloff on Monday.
China's new home sales, existing home sales, and land sales are all plummeting this month as government measures to curb prices bite.
Zhang was named on Forbes' Billionaires list of the world's richest people this year – but his firm Sinic was forced to halt trading in Hong Kong following an 87% drop in its share price