Asian stocks have fallen to a nine-month low as fears over a property crisis in China spurred concerns over a wider economic downturn.   

Some indexes across the continent, including Hong Kong, hit their lowest level since November last year, dragged down by concerns that China’s post-pandemic recovery has faltered. The worries have been amplified by a crisis at one of the country’s biggest property developers.  

Earlier this month, real estate giant Country Garden missed two bond repayment deadlines, raising fears it could default on some of its $200bn (£157bn) debt pile.  

Another of the company’s biggest investment groups, Zhongzhi, warned investors it needed to restructure.  

Government officials tried to assuage concerns over the state of the country’s property sector. Officials told a news conference they expected the crisis to be “gradually resolved”.

Read the latest updates below.