Chinese property shares tumble as Country Garden hits record low

Private real estate players suffer as state-backed names gain ground

20230814 Country Garden

Country Garden Holdings shares fell 18.4% to HK$0.80 on Monday. © Reuters

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- Chinese property shares fell on Monday as distressed developer Country Garden Holdings hit a record low after suspending trading in some of its onshore bonds.

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