Shares of China Evergrande Group are set to fall 10.5 percent on Thursday in the latest blow to the debt-saddled developer, whose woes have rattled global markets. The company resumed trade on Oct. 21 after a two week suspension starting Oct. 4. It announced late on Oct. 20 that it had failed to secure a $2.6 billion deal to sell a 50.1 percent stake in its property services arm to smaller rival Hopson Development Holdings, setting the conditions for a potentially disruptive default. Evergrande Property Services Group’s stock was set to drop 8 percent as trading in both companies’ shares resumed. Since the beginning of the year, the firm’s shares have fallen by almost 80 percent. It’s debt obligations boiled over to crisis point this year, triggered by new central government policies introduced in August last year designed to deleverage China’s property sector. Chinese regulators outlined “three red lines” to cut off new …
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