Kaisa shares up after trading resumes

SHANGHAI: Kaisa Group Holdings Ltd, the first and only Chinese property developer to default on its overseas debt, surged by a record 85 per cent in Hong Kong after trading resumed from a two-year suspension. Kaisa released its long-overdue results yesterday, the final condition it needed to meet to apply to lift its trading suspension. The shares surged almost 80 per cent to HK$2.80 at 9.38am in Hong Kong. Kaisa shares fell 53 per cent in the months leading up to its suspension in March 2015.