[HONG KONG] Shares of China Evergrande Group rose as much as 13.9 per cent after the property developer reached a deal with some investors of its unit Hengda to ease cash-crunch concerns.

The shares rose as high as to HK$18.80, the highest since Aug 21, and ranked the fifth most actively trade by turnover in early trade.

China's second-biggest property developer by sales reached a deal on Tuesday with investors holding 86.3 billion yuan (S$17.31 billion) of its unit, Hengda Real Estate, to not ask the debt-laden property developer to repurchase their holdings.

REUTERS