Asian Stock Market: No respite from Evergrande's fall-out risk, oil touched $76.00
|- Asian stocks show mixed trend on Tuesday tracking Wall Street price action.
- China’ Evergrande debt-ridden default risk, major central bank’s views on interest rate, rising commodity prices keeps traders buzzy.
- Beijing Authorities remain strict on corruption allegations amid big corporations with top 25 financial institutions under their lens.
Asian stocks continue to perform under pressure amid mixed concerns on China’s Evergrande default risk, interest rate hike signals from major central banks, and the concerns of the Delta variant of the coronavirus risk.
MSCI’s broadest index of Asia-pacific shares outside Japan declined 0.13% following a mixed session on Wall Street.
The Shanghai Composite Index gained 0.45% on Tuesday. Traders remained optimistic after the PBoC said that the central bank will protect consumers exposed to the housing market. China’s property giant has 30 days to fulfill its payment commitments before it falls into default category and Shenzhen authorities are now investigating the company’s wealth management unit.
Japan’s Nikkei 225 lost 0.44%, Hong Kong’s Hang Seng gained 0.44%.
The ASX 200 lost 0.63% amid growing concerns about the pace of the recovery in the region due to the rising coronavirus cases. Australia’s two biggest cities, Sydney and Melbourne are still under lockdown. New South Wales recorded 863 fresh cases on Monday. The Retail sales dropped by 1.7% in August, recording the third straight month fall.
WTI traded above $ 76.00 with 0.95% gains amid tighter supply and recovering demand in many parts of the world.
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