Asian Stocks Mixed, Trades Thin as Many Markets Remain Closed By Investing.com



© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mixed on Monday morning, with trade razor thin on the first trading day of 2022 for some markets.

South Korea’s was up 0.37% by 9:58 PM ET (2:58 AM GMT). Data released earlier in the day showed that the for December was 51.9, higher than the previous month’s 50.9.

Hong Kong’s was down 0.28%, while Chinese, Australian, and Japanese markets were closed for a holiday. There will be no cash trading of Treasuries in Asia on Monday.

Trader “sentiments may attempt to ride on the Santa Claus rally to deliver a positive start for the first trading day in 2022,” said Jun Rong Yeap, market strategist at IG Asia.

“While the rising omicron COVID spreads may warrant a cautious approach toward reopening, some expectations may be that improved vaccinations will aid to limit the eventual economic impact.”

Omicron-fueled outbreaks continue in countries from China to the U.S., with the global number of cases topping 290 million as of Jan. 3, according to Johns Hopkins University data.

Investors’ focus was on China Evergrande Group (HK:), whose Hong Kong shares were suspended from trading earlier in the day. The debt-ridden property developer did not provide a reason for the suspension.

However, fellow Chinese property developer Cifi Holdings has offered to buy China Evergrande’s outstanding 5.5% bond due in 2022. The offer was $1,000.5 for each $1,000 in principal amount plus accrued and unpaid interest, according to Cifi Holdings’ statement to the Hong Kong stock exchange. The offer to buy the $505.1 million of notes that remain outstanding expiring at 4pm London time on Jan. 7.

Investors also await China’s Caixin and PMIs, due later in the week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mixed on Monday morning, with trade razor thin on the first trading day of 2022 for some markets.

South Korea’s was up 0.37% by 9:58 PM ET (2:58 AM GMT). Data released earlier in the day showed that the for December was 51.9, higher than the previous month’s 50.9.

Hong Kong’s was down 0.28%, while Chinese, Australian, and Japanese markets were closed for a holiday. There will be no cash trading of Treasuries in Asia on Monday.

Trader “sentiments may attempt to ride on the Santa Claus rally to deliver a positive start for the first trading day in 2022,” said Jun Rong Yeap, market strategist at IG Asia.

“While the rising omicron COVID spreads may warrant a cautious approach toward reopening, some expectations may be that improved vaccinations will aid to limit the eventual economic impact.”

Omicron-fueled outbreaks continue in countries from China to the U.S., with the global number of cases topping 290 million as of Jan. 3, according to Johns Hopkins University data.

Investors’ focus was on China Evergrande Group (HK:), whose Hong Kong shares were suspended from trading earlier in the day. The debt-ridden property developer did not provide a reason for the suspension.

However, fellow Chinese property developer Cifi Holdings has offered to buy China Evergrande’s outstanding 5.5% bond due in 2022. The offer was $1,000.5 for each $1,000 in principal amount plus accrued and unpaid interest, according to Cifi Holdings’ statement to the Hong Kong stock exchange. The offer to buy the $505.1 million of notes that remain outstanding expiring at 4pm London time on Jan. 7.

Investors also await China’s Caixin and PMIs, due later in the week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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