Tue, 26 Oct 2021

SYDNEY, NSW, Australia - Stock markets in Asia settled down on Wednesday a China Evergrande announced that it was paying interest on one of its bonds.

With $305 billion of debt overhanging China's biggest property developer, there are fears the company is on the brink of collapse.

"We are still trying to understand what this payment means for the other bonds," a source familiar with the situation who could not be identified was quoted by Reuters news agency as saying.

"But I imagine they would want to stabilize the market and make other coupon payments, given the close scrutiny."

At the close on Wednesday, China's Shanghai Composite was ahead 15.52 points or 0.40 percent to 3,628.49.

In Hong Kong, the Hang Seng advanced 122.40 points or 0.51 percent to 24,221.54.

Japan's Nikkei 225, going against the trend, dived 200.31 points or 0.67 percent to 29,639.40.

The Australian All Ordinaries gained 30.20 points or 0.41 percent to 7,593.80.

The U.S. dollar was little moved ahead of a crucial meeting of the Federal Reserve. The euro traded at 1.1728. The British pound dipped to 1.3636. The Japanese yen was a tad weaker at 109.44. The Swiss franc was unchanged at 0.9228.

The Canadian dollar rose slightly to 1.2806. The Australian dollar inched up to 0.7241. The New Zealand dollar was unmoved at 0.7019.

Overnight on Wall Street, the Dow Jones industrials edged down 50.63 points or 0.15 percent to 33,579.84.

The Standard and Poor's 500 slipped 3.57 points or 0.08 percent to 14,354.16.

The Nasdaq Composite gained 32.49 poin ts or 0.22 percent to 14,746.40.

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