Asia Pacific Shares Rise as China Evergrande Averts Default

On Friday, the Asia Pacific shares edged up as embattled China Evergrande Group pulled back from the brink of default.

In China, the benchmark Shanghai Composite elevated 0.10% or 3.40 points to $3,598.18 per share. 

At the top of the index, Fuda Alloy Materials Co. rocketed 10.02% to 0.32 points to $22.50 per share. 

Consequently, the Shenzhen Component index increased 0.53% or 76.33 points to $14,521.19 per share. 

Its best performer, Ingenic Semiconductor, boosted 14.06% or 2.60 points to $21.06 per share. 

At the same time, Hong Kong’s Hang Seng index climbed 0.48% or 125.73 points to $26,143.26 per share. 

Subsequently, property business Longfor surged 6.43% or 0.31 points to $5.11 per share. 

In Japan, the benchmark Nikkei 225 jumped 0.75% or 216.51 points to $28,925.09 per share. 

Accordingly, semiconductor companies touched the peak of the index. 

In particular, Dainippon Screen Mfg. Co. hiked 5.43% or 4.21 points to $83.39 per share. 

Consequently, Tokyo Electron Ltd. stormed 4.57% or 19.20 points to $445.20 per share. 

Likewise, the TOPIX index advanced 0.44% or 8.74 points to $2,009.16 per share. 

Additionally, Beauty Garage Inc. enhanced 5.45% or 1.84 points to $35.60 per share. 

Similarly, South Korea’s KOSPI rose 0.01% or 0.48 points to $3,007.81 per share. 

Also, India’s NIFTY 50 index amplified 0.63% or 114.80 points to $18,291.20 per share. 

Then, the BSE SENSEX index extended 0.75% or 474.55 points to $61,402.10 per share. 

In Australia, the S&P/ASX 200 index widened 0.03% or 2.40 points to $7,417.80 per share. 

Evergrande Group Up as Asia Pacific Shares Hike

Moreover, shares of China Evergrande Group soared 4.26% or 0.01 points to $0.35 per share.

Accordingly, the upward move came after the troubled firm made an interest payment to foreign bondholders one day before its deadline. 

In line with this, Chinese property stocks extended a rally as the CSI 300 index edged up 0.87% or 42.98 points to $4,970.99 per share. 

At the same time, rivals of the cash-strapped developer posted gains in Friday trading. 

For instance, Country Garden Holdings Co. enriched 0.62% or 0.01 points to $1.05 per share. 

Similarly, Vanke heightened 3.42% or 0.09 points to $2.76 per share. 

Furthermore, Sunac China Holdings Ltd. skyrocketed 8.04% or 0.19 points to $2.52 per share. 

Overall, the MSCI’s broadest index of Asia Pacific shares outside Japan escalated 0.20% or 1.34 points to $661.29 per share.