SINGAPORE – Asia-Pacific stocks were mostly higher on Thursday as Asia-Pacific investors continued to monitor the situation surrounding the China Evergrande Group.
Hong Kong’s Hang Seng index rose 1.19% to close at 24,510.98 after falling earlier in the week. It had returned to trading on Wednesday after a public holiday.
China Evergrande Group’s shares in the city rose 17.62%, taking off some gains after previously rising more than 20%. That was even after days of losses – although the decline since the beginning of the year is still more than 80%.
Reuters reported Thursday that the chairman of China Evergrande Group said the company’s top priority was helping wealthy investors get their products paid off, although questions remained as to whether the competitive Chinese developer paid interest on one on Thursday Dollar denominated bond will pay.
The shares of other Hong Kong-listed Chinese property developers also rose: China Vanke rose 4.49% while Sun Hung Kai rose 2.76%. Country Garden rose 7.15%.
Meanwhile, HSBC’s Hong Kong-listed shares rose 2.45%. Those gains came after HSBC’s CEO said he saw no direct impact of Evergrande’s debt problems on the lender, according to Reuters.
Mainland stocks closed higher, with the Shanghai Composite climbing 0.38% to 3,642.22 while the Shenzhen Component rose 0.772% to 14,387.36.
South Korea’s Kospi, which returned to trading earlier in the post-holiday week, slipped 0.41% for the day to 3,127.58. The Australia S & P / ASX 200 rose 1% to close at 7,370.20.
MSCI’s broadest index for Asia Pacific stocks outside of Japan rose 0.82%.
The markets in Japan were closed on Thursday.
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The US dollar index, which tracks the greenback versus a basket of its competitors, hit 93.245 after a recent surge of around 93.
The Japanese yen was trading at 109.95 per dollar after weakening below 109.5 against the greenback yesterday. The Australian dollar changed hands at $ 0.7266, down from the $ 0.728 level it hit earlier this week.
Oil prices were higher in the afternoon of Asian trading hours, with international benchmark Brent crude oil futures rising 0.13% to $ 76.29 a barrel. US crude oil futures rose 0.1% to $ 72.30 a barrel.