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China debt crunch

China developer Sunac shares plunge after suspension ends

Shares down nearly 60% at one point after resuming trade in Hong Kong

Shares of property developer Sunac China Holdings were down 45% in the morning on April 13, after dropping by as much as 60% at one point, following a trading halt of more than a year.   © Reuters

HONG KONG (Reuters) -- Chinese property developer Sunac China Holdings' shares fell 45% on Thursday morning after resuming trade following a suspension of more than a year as it looks to restructure its debt after a default.

The share slump comes a day after the company said in a statement to the Hong Kong stock exchange that it was to resume trading and was implementing a debt restructuring plan.

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