Stocks in Asia-Pacific were mostly higher on September 23 as investors continued to monitor the situation regarding China Evergrande Group.
In Hong Kong, the Hang Seng index gained 1.19% to end its trading day at 24,510.98 following losses earlier in the week. The Hang Seng index returned to trade after a holiday on Wednesday.
Shares of property giant China Evergrande Group listed in Hong Kong rose 17.62%, paring some gains after soaring more than 20% earlier. Its year-to-date plunge is still more than 80%.
The company’s chairman said China Evergrande Group’s top priority is to help wealth investors redeem their products. Nonetheless, questions remained over whether the company will pay the interest due on a dollar-denominated bond on Thursday.
Hong Kong-listed shares of Chinese property developers also rose on September 23. Shares of China Vanke gained 4.49%, Sun Hung Kai added 2.76% and Country Garden jumped 7.15%.
Shares of HSBC listed in Hong Kong gained 2.45%. Its shares rose after HSBC’s CEO said he does not see a direct impact from China Evergrande Group’s debt problems on the lender.
Mainland Chinese stocks rose on September 23. The Shanghai composite added 0.38% to end its trading day at 3,642.22. The Shenzhen component gained 0.772% to close at 14,387.36.
South Korea’s Kospi returned to trade on September 23 from holidays earlier in the week. The Kospi dropped 0.41% to finish its trading day at 3,127.58. In Australia, the S&P/ASX 200 gained 1% to close at 7,370.20.
In the U.S., the Dow Jones Industrial Average rose 338.48 points to 34,258.32. The S&P 500 added 0.95% to 4,395.64. The Nasdaq Composite gained 1.02% to 14,896.85.
U.S. stocks rose on September 22 as the Federal Reserve held steady on interest rates. The country’s central bank said the tapering of purchases is coming soon.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.