In the stock markets in various parts of Asia, which had been increasingly cautious over the financing of the Chinese real estate giant Evergrande Group, stock prices rose in most markets including Hong Kong on the 23rd, affecting the Chinese economy and financial markets. The concern is once softened.
The Evergrande Group, which is the second largest in the Chinese real estate industry, suffered from financial difficulties due to huge debt, and temporarily caused a global stock market depreciation. It announced on the 22nd that it will make payments in RMB.
Under these circumstances, the stock market in various parts of Asia on the 23rd, when the transaction was held, was widely accepted as a relief from this announcement.
As a result, the closing prices of representative stock indexes in each region rose 1.1% from the 21st before the holiday in Hong Kong, where the "Evergrande Group" is listed.
Prices also increased in major markets such as Shanghai and Sydney compared to the previous day.
Concerns about the impact of the "Evergrande Group"'s tight cash flow on the Chinese economy and financial markets have once eased.
However, market officials said, "The Evergrande Group will default if it does not pay interest on dollar-denominated corporate bonds due within 30 business days, and many other interest payments will be due in the future. The uncertain situation will continue, "he said, and it seems that he will continue to be wary of the future.