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    China Evergrande fears grip markets as Beijing stands back, for now

    China · 4:02 AM UTC

    The risks of China Evergrande Group defaulting on its mountain of debt loomed large over nervous markets on Tuesday, as investors looked for signs of intervention by Beijing to stem any potential domino effect across the global economy.

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    The offshore yuan lingered near an almost one-month low on Tuesday while safe-haven currencies including the dollar benefited as investors sought shelter from a potential default by property developer China Evergrande.

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