Buyers Watch Evergrande Shares; China markets closed
SINGAPORE – Asia-Pacific stocks fell Tuesday morning as investors continued to monitor contested developer China Evergrande Group.
Japanese stocks fell when they returned to trading after a Monday holiday. The Nikkei 225 lost 1.61% while the Topix index lost 1.69%.
In Australia, the S & P / ASX 200 lost 0.14%.
MSCI’s broadest index for Asia Pacific stocks outside of Japan was down 0.17%.
The liquidity crisis at the China Evergrande Group could continue to weigh on investor sentiment regionally after the Hang Seng index in Hong Kong was pulled down by more than 3% on Monday.
The markets in mainland China and South Korea are closed on Tuesday due to a public holiday.
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Overnight in the US, the S&P 500 had its worst day since May, falling 1.7% to 4,357.73. The Dow Jones Industrial Average fell 614.41 points to 33,970.47 while the Nasdaq Composite fell 2.19% to 14,713.90.
The US dollar index, which tracks the greenback versus a basket of its competitors, was at 93.239 after rising from around 92.8 late last week.
The Japanese yen was trading at 109.43 per dollar after appreciating from around 110 against the greenback yesterday. The Australian dollar changed hands at $ 0.7258 as it bounced back hard after falling above $ 0.73 last week.