August 29, 2017 / 1:33 AM / 5 months ago

China's Evergrande shares rise 4 percent after it pledges to slash debt by 2020

HONG KONG (Reuters) - Shares of China Evergrande Group (3333.HK), the country’s No. 3 property developer, were set to rise 3.95 percent on Tuesday after it pledged to cut its debt by 2020 and posted a jump in first-half profits.

    The stock, which has surged close to 400 percent this year, was set to open at HK$23.70.

    That compares to a fall of 0.4 percent in the benchmark Hang Seng Index .HSI.

    Reporting by Anne Marie Roantree; Editing by Clarence Fernandez

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