Asian Market Mixed as Evergrande Woes Placed Traders on Edge

Asian Market Mixed as Evergrande Woes Placed Traders on Edge

On Friday, the Asian market mixed as the uncertainty of the China Evergrande crisis placed traders on edge. 

Accordingly, the Hang Seng index declined 0.04% or 9.60% points to $24,501.38 per share. 

In China, the Shanghai Composite index plummeted 0.07% to 2.47 points to $3,639.75 per share.

Then, the benchmark Shenzhen Component inched up 0.52% or 75.51 points to $14,462.87 per share.

Also, blue chips in the CSI300 index amplified 0.53% or 25.49 points to $4,878.69 per share. 

In Japan, the Nikkei 225 index climbed 1.89% or 561.49 points to $30,200.89 per share. 

At the same time, the broader TOPIX index skyrocketed 2.16% or 44.22 points to $2,087.77 per share.

In Taiwan, the TAIEX index surged 0.93% or 158.93 points to $17,237.15 per share.

Consequently, India’s NIFTY 50 index rose 0.46% or 82.00 points to $17,904.95 per share.  

Elsewhere, South Korea’s KOSPI index shed 0.04% or 1.27 points to $3,126.31 per share. 

Furthermore, New Zealand’s S&P/NZX 50 index dropped 0.03% or 3.45 points to $13,302.47 per share.

In Australia, the S&P/ASX 200 index tumbled 0.45% or 33.00 points to $7,337.20 per share. 

Subsequently, the MSCI’s broadest index of Asia-Pacific shares outside Japan modestly increased 0.03% or 0.18 points to $646.35 per share.

Concerns on the possible default of Evergrande Group lingered as the highly indebted firm remained silent on its due payment yesterday.

Moreover, the Chinese developer plunged 7.12% to 0.02 points to $0.32 per share, reversing its huge Thursday gain of 17.62%.

World Stock Market Mostly Up while Asia Mix

Similarly, shares in the world stock market mostly gained, while Asia was mixed on the Evergrande woes. 

On Wall Street, the increase in investors’ risk appetite drove gains for the US stocks.

The DJIA index extended 1.48% or 506.50 points to $34,764.82 per share. 

Similarly, the benchmark Nasdaq Composite surged 1.04% or 155.40 points to $15,052.24 per share.

Also, the S&P 500 index climbed 1.21% or 53.34 points to $4,448.98 per share.

In addition, European stocks traded higher as the Asian market jittered on the debt troubles of the real estate developer.

On the Paris Stock Exchange, the CAC 40 index elevated 0.98% or 64.98 points to $6,701.98 per share.

On the Frankfurt Stock Exchange, the MDAX Performance index hiked up 0.79% or 277.06 points to $35,483.49 per share. 

Moreover, the DAX 40 index surged 0.88% or 137.23 points to $15,643.97 per share.