BUZZ-China's Country Garden at over 10-month peak as trade resumes

Reuters

01-21

BUZZ-China's Country Garden at over 10-month peak as trade resumes

** Shares of China's Country Garden 2007.HK jumped as much as 30% to HK$0.63, highest since March 4, 2024

** Stock pares gains to trade up 19.6%, still set for biggest one-day pct rise since Nov 2023

** Stock resumed trade on Tuesday after a nine month-plus trading suspension to give embattled property developer time to prepare delayed financial statements for 2023 and 2024

** On Monday, Country Garden's lawyer told a HK court the company expects to reach terms with creditors next month regarding the restructuring of $16.4 bln in offshore debt

** Hang Seng Mainland Properties Index .HSMPI surges 2.3% and Hang Seng Index .HSI rises 1.1%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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