Hong Kong’s Hang Seng jumps 2%; Evergrande shares surge more than 25% after days of losses
Shares in Asia-Pacific were mixed in Thursday morning trade as investors in Asia-Pacific continue monitoring the situation surrounding China Evergrande Group.
Hong Kong’s Hang Seng index jumped 1.95% after losses earlier in the week. It had returned to trade after a holiday on Wednesday. Shares of China Evergrande Group in the city soared more than 25%, also after days of losses — although its year-to-date plunge is still more than 80%.
Reuters reported Thursday that China Evergrande Group’s chairman said the firm’s top priority is to help wealth investors redeem their products, though questions remain over whether the embattled Chinese developer will pay the interest due on a dollar-denominated bond on Thursday.
Mainland Chinese stocks were also higher, with the Shanghai composite climbing 0.72% while the Shenzhen component advanced 0.576%.
South Korea’s Kospi, returning to trade from holidays earlier in the week, slipped 0.81%. The S&P/ASX 200 in Australia edged 1.07% higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6% higher.
Markets in Japan are closed on Thursday.
Reference: CNBC
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