Alarm bells are ringing for observers of the Evergrande crisis, with an announcement the auditor of another major Chinese property developer has resigned.
As China Evergrande and a host of other major Asian property developers continue to grapple with extraordinary debt, there are now signs the property crisis has spread further across the Asia Pacific region.
Investors should expect more Chinese real estate defaults in 2022 - that's the view of one of the most respected specialist Asian investment firms.
China Evergrande has been accused of conducting a "fake" conference call with creditors while it works on a restructuring proposal that could see the property giant dismantled.
Chinese state media is reporting Guangdong provincial government officials have moved in on China Evergrande's Shenzhen headquarters.
What's next for China Evergrande? Following Fitch Ratings' downgrade to default status, institutional bondholders are now expected to be forced to write-off billions.
Ratings agency 'S&P Global Ratings' says a demand that Chinese property giant Evergrande repay US$260 million shows that the issuer's liquidity remains extremely weak.
A veteran credit analyst has encouraged holding meme stocks GameStop and AMC Entertainment ahead of what he expects will be a "financial meltdown".