Evergrande shares plunge on return to trade
SINGAPORE — Stocks in Asia-Pacific were mixed in Thursday trade, as investors monitored shares of developer China Evergrande GroupHong Kong
Evergrande shares fell 9.83% Thursday morning. After a two-week-long halt, they reopened trading on Thursday.
In an exchange filing, the debt-laden company announced that it would be closing its doors on Wednesday. a deal to sell a 50.1% stake in its property services business to another developer Hopson had fallen through
Evergrande has missed several coupon payments on its bonds and warned that “there’s no guarantee the Group can meet its financial obligations pursuant to the relevant financing documents, other contracts, or any other agreements.”
The shares of Evergrande Property Services GroupThe index plunged 8.79% on Thursday. Hang Seng Properties traded 0.9% higher.
In Hong Kong, the Hang Seng index slid 0.35%. Stocks in mainland China were mixed. The Shanghai Composite was up 0.19%, while Shenzhen fell 0.106%.
Japan has the following: Nikkei 225The Topix index dropped 0.28% and the indices slipped 0.2% South Korea KospiInflation was 0.8% higher
Australian stocks were up as of S&P/ASX 200The increase was 0.11%
MSCI’s Asia-Pacific broadest index, which is not based on Japan, traded at 0.07% below.
Following an earlier session high, the Dow Jones Industrial Average was up 152.03 points to 35.609.34. The S&P 500 advanced 0.37% to 4,536.19 while the Nasdaq Composite lagged, slipping fractionally to 15,121.68.
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The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.585 — still off levels above 94 seen earlier this week.
The Japanese yenAfter strengthening against the greenback by above 114.4 yesterday, it traded at 114.37 dollars today. After strengthening from above 114.4 against the greenback yesterday, it traded at 114.37 per dollar. Australian dollarThe price was $0.7533. This is a continuation of gains that were made after the rise to below $0.744 earlier in this week.
Petroleum prices rose in the early hours of Asia trade, with benchmarks internationally. Brent crude futuresBarrel price up to $0.22% to $86.01 U.S. crude futuresThe price of a barrel rose by 0.4% to $83.81,