China Evergrande shares set to resume trade on Tuesday

News Snapshot:

China Evergrande Group said on Monday it has applied to the Hong Kong Stock Exchange for trading in its shares to resume on Tuesday, adding there is currently no other inside information related to the company that needs to be disclosed. On Thursday, trading in shares of the embattled Chinese property developer were suspended and the company later said its founder, Hui Ka Yan, was being investigated over suspected “illegal crimes.” The news signalled for the first time that authorities could hold the company’s billionaire founder accountable for the developer’s spiralling financial woes. Chairman Hui is being investigated on suspicion...