Business

Trading in Evergrande shares stopped




SINGAPORE – Shares in Asia were mixed in trading Monday morning when trading began in 2022, with some major markets in the region closed.

Hong Kong’s Hang Seng Index reversed earlier and fell into negative territory, falling 0.21%.

Trading in the shares and structured products of the debt-stricken Chinese developer China Evergrande Group was halted in Hong Kong on Monday, according to a stock exchange release. No immediate reason was given for the shutdown.

Real estate shares in Hong Kong fell in Monday trading, with shares in Country Garden falling 2.02% while Sunac plunged 8.32%. The Hang Seng Properties index traded 0.57% lower.

Hong Kong-listed shares in Evergrande-related companies fell in trading Monday morning. China Evergrande New Energy Vehicle Group fell 1[ads1].7% while Evergrande Property Services fell 3.03%.

South Korea’s Kospi rose 0.34% while Taiex in Taiwan rose 0.33%.

In Southeast Asia, the Straits Times Index rose 0.31%.

MSCI’s broadest index for Asia-Pacific equities outside Japan traded 0.05% lower.

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The markets in Australia, mainland China and Japan are closed on Monday due to a public holiday.

Currency and oil

The US dollar index, which follows the dollar against a basket of its peers, was at 95,809 after recently falling from over 95.7.

The Japanese yen traded at 115.24 per dollar, weaker than levels below 114.6 against the dollar last week. The Australian dollar was at $ 0.725, still above levels below $ 0.722 seen in the previous trading week.

Oil prices were higher in the morning during the Asian trading season, with international benchmark futures for Brent oil up 0.36% to $ 78.06 per barrel. US crude futures rose 0.4% to $ 75.51 a barrel.



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