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China Evergrande Group was not alone in its downturn. China Aoyuan Group Ltd., another significant player in the index, also saw its shares plummet by an unprecedented 72% after resuming trading. This marked a record low for the company and significantly contributed to the overall decline of the index.
The abrupt cancellation of meetings by Evergrande and the record drop in Aoyuan’s shares have sent shock waves through the Chinese real estate sector. The industry will keenly watch any further developments from these two major players and their potential impact on the broader market.
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