Hong Kong’s Hang Seng jumps nearly 2%, Evergrande shares up

SINGAPORE – Asia-Pacific stocks were mostly higher in trading on Thursday morning, as investors in Asia-Pacific continued to monitor the situation surrounding China Evergrande Group.

Hong Kong’s Hang Seng Index jumped 1.86% after losses earlier in the week. He had returned to the business after a public holiday on Wednesday. Shares of China Evergrande group in the city have climbed more than 22%, also after days of losses – though its year-to-date drop is still over 80%.

Reuters reported on Thursday that the chairman of China Evergrande Group said the company’s top priority was to help private investors buy back their products, although questions remain as to whether the ailing Chinese developer will pay the interest. due on a dollar-denominated bond Thursday.

Shares of other Hong Kong-listed Chinese real estate developers also rose: China Vanke jumped 6%, while Sun Hung Kai rose more than 1%. Country Garden climbed 8%.

Meanwhile, Hong Kong-listed HSBC shares rose more than 2%. The gains came after the CEO of HSBC said he saw no direct impact of Evergrande’s debt problems on the lender, according to Reuters.

Mainland Chinese stocks were also higher, with the Shanghai composite rising 0.85% while the Shenzhen component was up 0.577%.

South Korea’s Kospi, returning to trade after the holidays earlier in the week, slipped 0.51%. The S & P / ASX 200 in Australia rose 1.07%.

The MSCI’s largest Asia-Pacific stock index outside of Japan traded up 0.76%.

Markets in Japan are closed on Thursdays.

The US dollar index, which tracks the greenback against a basket of its peers, was at 93.467 after a recent peak of around 93.

The Japanese yen was trading at 109.89 per dollar after weakening yesterday below 109.5 against the greenback. The Australian dollar changed hands at $ 0.7238, below the levels of around $ 0.728 seen earlier in the week.

Oil prices were higher on the morning of trading hours in Asia, as international benchmark Brent crude futures rose 0.35% to $ 76.46 a barrel. US crude futures edged up 0.3%, trading at $ 72.45 per barrel.