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Weibo listing in Hong Kong, oil and currencies


SINGAPORE — Chinese stocks lagged other Asia-Pacific markets on Wednesday, and troubled Chinese real estate developers are back in the spotlight. Chinese social media giant WeiboIts market debut was in Hong Kong.

Hong Kong’s Hang Seng index remained at the level of its flatline during early trade. WeiboIt made its debut in the market on Wednesday at a secondary listing with an offer price of $272.80 Hong Kong dollars ($34.98) per share. It is listed on the Nasdaq. At 256.20 Hong Kong Dollars ($32.85), shares were 6% higher.

Weibo’s Nasdaq-listed stock plunged more than 10% during the week. These are the Chinese giants of ride-hailing. DidiLast week it will start delisting from the New York Stock ExchangeMake plans to list in Hong Kong.

Trade in Chinese shares of major real estate developers is possible while you wait. KaisaA notice posted on the Hong Kong stock exchange stated that Wednesday will see Kaisa’s suspension. According to Reuters Kaisa also has been involved in debt issues since it appeared unlikely that it will meet the $400 million deadline for its offshore debt on Tuesday. Analysts also said that Kaisa failed to agree with bondholders to exchange notes last week, raising its likelihood of default.

This is the second trading stop. In November, after the developers had stopped trading, this developer decided to suspend it again. missing a payment on a wealth management product earlier this month.

Stocks of mainland China also fell. Although the Shanghai Composite was nearly flat, Shenzhen had a 0.6% increase.

Others markets in Asia-Pacific fared well. Japan’s Nikkei 225Topix gained 0.63%, while the bounce rate was 1.1% Japan revealed that the economy suffered a decline of 3.6% during its third quarter. That is greater than what was initially estimated at 3.0%. revised government data showed on WednesdayAccording to Reuters:

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South Korea’s Kospi was 1.6% more than Australia’s. S&P/ASX 200bounced 11%

The MSCI’s largest index of Asia-Pacific shares, which excludes Japan, rose by 0.46%

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Oil and currencies

In Asia, oil prices dropped a bit during the hours. after spiking for most of the week. U.S. crude oil fell 0.43%, to $71.75 per barrel. Brent futures were also down 0.46%, to $75.09.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was little changed at 96.233 — falling back from levels around 96.3 earlier.

The Japanese yenIt traded at 113.41 dollars per dollar as the currency continued to decline. As the dollar continued to decline, it traded at 113.41 dollars. Australian dollarThe price was $0.7117, continuing to climb since the previous week.