Hong Kong's Kaisa up more than 7% on debt restructuring plan

[HONG KONG] Shares of homebuilder Kaisa Group jumped more than 7 per cent in early trading on Tuesday, after the struggling company announced an onshore debt restructuring plan.

The company said late on Monday the plan, involving 48 billion yuan (US$7.6 billion), aimed at restoring its financial and operational stability.

Trade in Kaisa's shares had been halted on Monday. The benchmark Hang Seng Index was up 0.1 per cent.

REUTERS