· Asia-Pacific markets mixed; Evergrande shares drop nearly 12%
Shares in Asia-Pacific were mixed in Friday trade, with shares of China Evergrande Group continuing to take a beating.
By Friday afternoon in Hong Kong, China Evergrande Group shares plummeted 11.79% as fears over its debt problems continue to weigh on investor sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) recovered from early losses to trade flat, but was still down 2.7% on the week.
· Japanese shares post 4th weekly gain on catch-up trade, chipmakers boost
Japanese shares closed higher on Friday to post their fourth straight weekly gain, as heavyweight chipmakers jumped, and some investors caught up on a recent rally.
Hopes from the new leadership, rising COVID-19 vaccinations and easing infections have powered a 8.58% jump in the Nikkei share average for the month so far. Despite a fall in the past two sessions, the index is still ending with a 0.39% weekly gain, marking an increase for fourth straight week.
The benchmark index rose 0.58% to close at 30,500.05, while the broader Topix gained 0.48% to 2,100.17.
· China stocks led higher by consumer staples, healthcare
Chinese shares closed higher on Friday ahead of the mid-autumn festival holiday, with consumer staples and healthcare stocks leading the gains.
The blue-chip CSI300 index rose 1.0%, to 4,855.94, while the Shanghai Composite Index gained 0.2% to 3,613.97 points.
For the week, the CSI300 finished down 3.1%, while the Shanghai Composite Index dropped 2.4%, the biggest weekly decline for both since Aug 20.
A sub-index tracking coal stocks plunged 6.2%, their biggest daily decline since February 2020.
· European markets climb, outpacing tepid global sentiment; UK retail sales fall unexpectedly
European markets advanced on Friday, outpacing other major markets as global investors continue to weigh the prospect of slowing economic growth.
The pan-European Stoxx 600 added 0.6% in early trade, with retail stocks climbing 1.4% to lead gains as all sectors except basic resources entered positive territory.
· Stateside, stock futures were muted in early premarket trading as investors remain cautious during the traditionally weak month of September.
Reference: CNBC, Reuters
Thai
Eng