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Asia Markets Mostly Rise



Evergrande’s shares halted trading on Monday after Hong Kong’s high court ordered the liquidation of the embattled Chinese property developer.

In Japan, the Nikkei 225 recovered 275.87 points, or 0.8%, to 36,026.94,

In Hong Kong, the Hang Seng index gained 125.01 points, or 0.8%, to 16,077.24.

The stock was suspended from trading in Hong Kong at about 10:18 a.m. local time after plunging 20% in volatile trading. Subsidiaries Evergrande Property Services and Evergrande New Energy Vehicle Group also called for trading halts, according to filings with the Hong Kong exchange.

Evergrande’s overseas creditors failed to reach an 11th-hour restructuring deal this weekend, according to the Wall Street Journal.

In Singapore, its central bank left policy unchanged as expected on Monday in its first quarterly monetary policy decision of 2024. The Monetary Authority of Singapore said it will maintain its exchange rate policy band known as the Singapore dollar nominal effective exchange rate or S$NEER.

On Wednesday, Taiwan and Hong Kong will also release their fourth-quarter GDP numbers.

CHINA

In Shanghai, the CSI 300 moved lower 29.86 points, or 0.9%, to 3,303.96.

This week’s major events will be China’s factory activity figures for January as well as Australia’s fourth-quarter inflation figures on Wednesday.

This will be last set of key data before the Reserve Bank of Australia’s meeting on Feb. 5.

In other markets

In Singapore, the Straits Times Index lost 19.22 points or 0.6%, to 3,140.31.

In Taiwan, the Taiex jumped 124.6 points, or 0.7%, to 18,119.63.

In Korea, the Kospi index notched higher 22.09 points, or 0.9%, to 2,500.65.

In New Zealand, the NZX 50 hiked 36.85 points, or 0.3%, to 11,911.89.

In Australia, the ASX 200 advanced 23.08 points, or 0.3%, to 7,578.45.



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