Evergrande will be liquidated

Chinese real estate developer Evergrande will be liquidated by a Hong Kong court, Investing.com reported citing Reuters. The size of its debt, exceeding $300 billion, is the largest in the world, while it failed to reach an agreement with creditors on its restructuring. After this news, the company's shares collapsed by 21%.

The court's decision was motivated by the desire to provide certainty for creditors, the portal specifies. Unsuccessful negotiations on debt restructuring lasted more than two years. According to experts, the liquidation of the company may increase investor pessimism about the Chinese real estate market. In addition, there is a probability that it will be difficult and will take a long time.

One of the most expected events of this week will be the results of the two-day meeting of the Federal Reserve, which starts today. As players believe, the key rate will remain unchanged. It is now at its highest levels in the last 20 years.