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Despite speeches aimed at reassuring financial markets<\/strong> that fear contagion, Evergrande<\/strong> is still not out of the woods. As the company is close to default, crippled by a debt of 260 billion euros, the Chinese property giant suspended its listing on the Hong Kong stock exchange<\/strong> on Monday, without giving any real reasons.<\/p>\n <\/p>\n At the same time, the group, whose interests affect millions of Chinese, will sell 51% of one of its subsidiaries to Hopson Development<\/strong>, a Chinese real estate company, for more than 5 billion dollars, the local press reported Monday. A sale that would cover only 1.7% of the company’s total debt could explain the suspension of the listing.<\/p>\n <\/p>\n As the countdown to bankruptcy is underway, the developer must urgently find new capital. A fortnight ago, it had already started to repay part of its debt, which was too small in relation to its creditors.<\/p>\n <\/p>\n Despite optimism over the announcement of new medicines to combat the Covid-19, inflation<\/strong> is also at the heart of Asian stock market<\/strong> concerns. Indeed, US data released on Friday showed an increase in consumer spending<\/strong> and an acceleration in factory activity<\/strong>, but high inflation<\/strong> is also visible in the Eurozone<\/strong>, where inflation has peaked and seems likely to rise even higher.<\/p>\n <\/p>\n Investors are concerned that global inflation<\/strong> could persist for longer than expected, given the continued rise<\/strong> in commodity prices and the ongoing disruption<\/strong> of energy supplies in many parts of the world. Persistent high inflation could have adverse effects<\/strong> on the economy.<\/p>\n <\/p>\n