Stocks in Asia-Pacific mostly gained Today

Stocks in Asia-Pacific were mostly higher on September 23 as investors continued to monitor the situation regarding China Evergrande Group.

In Hong Kong, the Hang Seng index gained 1.19% to end its trading day at 24,510.98 following losses earlier in the week. The Hang Seng index returned to trade after a holiday on Wednesday. 

Shares of property giant China Evergrande Group listed in Hong Kong rose 17.62%, paring some gains after soaring more than 20% earlier. Its year-to-date plunge is still more than 80%.

The company’s chairman said China Evergrande Group’s top priority is to help wealth investors redeem their products. Nonetheless, questions remained over whether the company will pay the interest due on a dollar-denominated bond on Thursday. 

Hong Kong-listed shares of Chinese property developers also rose on September 23. Shares of China Vanke gained 4.49%, Sun Hung Kai added 2.76% and Country Garden jumped 7.15%.

Shares of HSBC listed in Hong Kong gained 2.45%. Its shares rose after HSBC’s CEO said he does not see a direct impact from China Evergrande Group’s debt problems on the lender. 

Mainland Chinese stocks 

Mainland Chinese stocks rose on September 23. The Shanghai composite added 0.38% to end its trading day at 3,642.22. The Shenzhen component gained 0.772% to close at 14,387.36.

South Korea’s Kospi returned to trade on September 23 from holidays earlier in the week. The Kospi dropped 0.41% to finish its trading day at 3,127.58. In Australia, the S&P/ASX 200 gained 1% to close at 7,370.20.

In the U.S., the Dow Jones Industrial Average rose 338.48 points to 34,258.32. The S&P 500 added 0.95% to 4,395.64. The Nasdaq Composite gained 1.02% to 14,896.85. 

U.S. stocks rose on September 22 as the Federal Reserve held steady on interest rates. The country’s central bank said the tapering of purchases is coming soon.