Trading in Evergrande shares stopped

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

Hong Kong’s Hang Seng Index cut past gains and fell in negative territory, falling 0.74% from its last hour of trading.

Trading in the shares and structured products of the debt-ridden Chinese developer China Evergrande Group was halted in Hong Kong on Monday, according to an exchange notice. No immediate reason was given for stopping.

Shares of Evergrande-related companies were mixed in Hong Kong. China Evergrande New Energy Vehicle Group rose 12.78% while Evergrande Property Services did not change.

Other property shares in Hong Kong also fell, with Country Garden shares falling 3.03% while Sunac fell 9.34%. The Hang Seng Properties index traded 1.16% lower.

Meanwhile, the shares of Chinese artificial intelligence company Sensetime rose 28.91% on Monday, after seeing a strong debut in Hong Kong last week.

Elsewhere, South Korea’s Kospi gained 0.37% to close at 2,988.77, while the Taiex in Taiwan rose 0.28% on the day to 18.270.51.

Across Southeast Asia, the Straits Times index in Singapore climbed 0.28% in afternoon trading.

MSCI’s broadest index of Asia-Pacific stocks outside Japan fell 0.03%.

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Markets in Australia, mainland China and Japan were closed for a holiday on Monday.

Currency and oil

The US dollar index, which follows the greenback against a peer rate, was at 95,889 after recently falling above 95.7.

The Japanese yen traded at 115.32 per dollar, weaker than levels below 114.6 seen against the greenback last week. The Australian dollar was at $ 0.725, still above levels seen below $ 0.722 in the previous trading week.

Oil prices were higher in the midst of Asian trading hours, with international benchmark Brent crude futures up 0.95% to $ 78.52 per barrel. US crude futures gained 0.93% to $ 75.91 per barrel.


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