Stock Groups

Chinese property stocks fall, developer Kaisa shares halted

[ad_1]

SINGAPORE — Stocks in Asia-Pacific were mixed in Friday trade as shares in Hong Kong led losses among the region’s major markets.

Hong Kong Hang Seng indexEarly trade saw a drop of 1.6% The mainland Chinese stock markets also dropped, with the Shanghai compositeThe decrease was 0.3% Shenzhen componentYou will save 0.4%

The shares of Chinese property developers in Hong Kong declined. China Evergrande GroupWhile the increase was only 1.27%, it was still a significant drop China VankeDropped by 0.58% Sunac China Holdings plunged 4%. Hang Seng Properties traded 0.9% less.

Trade in Hong Kong-listed shares from a Chinese property developer Kaisa GroupExchange notices stated that several of the units had been suspended last Friday.

After Kaisa Group had said that Thursday’s payment was late for its wealth management products finance unit, it made the announcement. according to Reuters. According to Natixis, Kaisa ranks second among Chinese developers in issuing U.S.-dollar-denominated offshore high yield bonds. Evergrande ranks first.

Investors monitor developments in Chinese real estate amid ongoing fallout which has seen Evergrande (debt-ridden) miss more than one of its interest payments offshore.

Mixed Asia-Pacific market

Other places, Asia-Pacific stocks were as mixed as South Korea’s. Kospi fell 0.8%. Japan shares also fell as the Nikkei 225The Topix index fell 0.4%, and it dropped 0.73%.

It S&P/ASX 200Australia saw an increase of 0.54%

MSCI’s Asia-Pacific share index, which is the largest outside of Japan, traded at 0.33% below.

Wall Street records highs

Oil prices jump about 1%

CNBC Pro: Stock pickings and investment trends

It U.S. dollar indexAfter a recent rise from below 94.0,, which measures the greenback in relation to a basket of peers, was 94.358

It Japanese yenIt traded at 113.66 USD, which was higher than yesterday’s levels of 114 against the greenback. The Australian dollarIt was trading at $0.7386. This is despite a drop of more than $0.75 in the previous trading week.

— CNBC’s Evelyn Cheng contributed to this report.

[ad_2]