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Podcast: Niaga AWANI
Episode: Niaga AWANI: China Evergrande Group's Market Value Plummets by $2.2 Billion as Share Trading Resumes
Description: China Evergrande Group, the world's most indebted property firm, suffered a staggering loss of $2.2 billion, equivalent to 79% of its market value, as its shares resumed trading on Monday. This development marks a critical step in the company's efforts to restructure its offshore debt. Evergrande has been at the epicenter of a crisis in China's property sector, marked by a series of debt defaults since late 2021, leading to a 17-month suspension of its stock trading.