Asian markets settled mostly lower on Monday, as the sell-off in technology sector stocks and the looming concerns over rapid spreading Omicron virus variant saddled the market sentiments. Rising Bond yields also pressured the equity buying. China’s Shanghai ended lower after China’s property giant Evergrande hits 11 year low rate in the indices. Evergrande failed to pay coupons totalling $82.5 million due on November 6 and investors are on tenterhooks eyeing whether it can pay back its obligations before a 30-day grace period ends on December 6. The company reported to have plans to Include all offshore bonds in restructuring. Semiconductor and energy stocks also paced declines. Heng Seng tumbled the most in the session extending losing streak to third straight session, while Japan’s benchmark also ended modestly lower.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,589.31 | -18.12 | -0.50 |
Hang Seng | 23,349.38 | -417.31 | -1.76 |
Jakarta Composite | 6,547.12 | 8.61 | 0.13 |
KLSE Composite | 1,501.74 | -18.29 | -1.22 |
Nikkei 225 | 27,927.37 | -102.20 | -0.36 |
Straits Times | 3,116.32 | 14.39 | 0.46 |
KOSPI Composite | 2,973.25 | 4.92 | 0.17 |
Taiwan Weighted | 17,688.21 | -8.93 | -0.05 |
