Evergrande shares were up as much as 32% on Thursday, but were currently trading in the 17% range on the Hong Kong Exchange, as of the writing of a New York Post article.

The shares rose on Evergrande's announcement that it had struck an agreement with Chinese bondholders to meet some of its debt obligations. The real estate conglomerate, which sent global markets down on Monday over fears of its $300 billion debt load, has not revealed whether it has reached any agreements with overseas bondholders.

Evergrade competitor Country Garden was up more than 7% early Thursday, while China Vanke rose 4.5%, and Sun Hung Kai, nearly 3%.

Since the beginning of the year, Evergrande's stock is down more than 80%.

Traders were paying close attention to the shares when Chinese officials reportedly told regional and local banks to brace for the company's collapse. Evergreen faced deadlines earlier today to pay interest on some of its debt load.