Shares in embattled Chinese property giant Evergrande opened up 6% in Hong Kong after Chinese media reported it had made an interest payment before a crucial deadline.
The company missed an $83.5m (£61m) payment last month, triggering a 30-day grace period set to expire on Saturday.
The company wired the funds on Friday, a source told newswire Reuters.
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Had the deadline been missed, Evergrande would have plunged into formal default.
News of the payment saw Evergrande’s shares bounce back from a sharp fall the previous day, following news that a deal to sell part of its property services unit had fallen through.
Chinese real estate firm Hopson Development had been reportedly set to buy a 51% stake in the unit for $2.6bn (£1.88bn).
Both companies however, confirmed the deal was off after they were unable to agree on terms.
courtesy BBC
