HONG KONG -- Banks in Hong Kong including HSBC Holdings, its unit Hang Seng Bank and Bank of East Asia have stopped approving some mortgages for properties being developed by embattled China Evergrande Group in the city, four people familiar with the decisions say.
Standard Chartered and Bank of China's Hong Kong unit also are declining to offer new home loans for unfinished Evergrande properties, according to one of the sources. The halt comes as concerns rise over Evergrande's liquidity and its ability to meet debt payments, they said.
