HONG KONG] Fears of a contagion from the potential collapse of battered Chinese real estate giant Evergrande sent property shares plunging in Hong Kong on Monday, with the firm expected to default on upcoming interest payments this week.

The firm, one of the country's biggest developers, is on the brink of collapse as it wallows in debts of more than US$300 billion, raising concerns of a spillover into the domestic and global economy.

The crisis has triggered rare protests outside the company's offices in several Chinese cities by investors and suppliers - some of whom claim they are owed as much as US$1 million - demanding their money.