Shares in Country Garden have fallen to a record low after the Chinese developer suspended trading in at least 10 of its mainland bonds.
The company, formerly the largest developer in China by sales, missed international bond payments last week in a sign that a two-year liquidity crisis across the real estate sector was threatening to escalate.
Shares in the group fell as much as 18.4% in Hong Kong following a statement released over the weekend that said several bonds issued by the company and its subsidiaries would be suspended from trading this week.
The decision has also spurred a wider sell-off in property-linked stocks.
Shares in developer Jinmao Holdings also fell as much as 9.8% after the company issued a profit warning late on Friday. A Hong Kong index tracking the mainland property sector dropped by as much as 4.8%.
