Evergrande’s shares lost more than a fifth of their value, while those of its property services arm fell 14%.

Country Garden’s shares fell 7.7%. The company is struggling to handle its own debt load, and has been badly hurt by a weak recovery in some of the poorer cities it focused its business on.

Shares of China Aoyuan Group, a Guangzhou-based developer, started trading again after an 18-month hiatus. They fell 72%.