H.K. Plunge in Mixed Asia Trade

Hong Kong-listed shares of China Evergrande Group plunged in a mixed trading day for Asia-Pacific markets on Friday.

In Japan, the Nikkei 225 recovered 116.8 points, or 0.5%, to 23,204.62.

The Japanese yen traded at 105.41 per U.S. dollar, having weakened from levels below 104.4 against the greenback this week.

In Hong Kong, the Hang Seng lost 75.65 points, or 0.3%, to 23,235.42.

By the Friday market close in Hong Kong, shares of China Evergrande Group listed in the city fell 9.5%. The move came after reports the property developer is seeking government support to approve a restructuring plan and warned of an impending cash crunch.

Meanwhile, stocks of major Australian banks jumped on Friday.

Shares of the "Big Four" banks helped lift the index higher on the day. Australia and New Zealand Banking Group surged 6.3%, Commonwealth Bank of Australia jumped 3.01%, Westpac soared 7.4% and National Australia Bank rose 6.9%.

The moves came after authorities announced changes to simplify credit access for consumers and small businesses.

The Australian dollar changed hands at $0.7071, following this week’s slip from levels above $0.72.


The CSI 300 eked higher 6.95 points, or 0.2%, to 4,570.02.

Investors monitored Chinese assets after FTSE Russell announced Thursday that Chinese government bonds are scheduled to be included in the FTSE World Government Bond Index starting October 2021.

Following the announcement, the onshore Chinese yuan strengthened to 6.8193 per U.S. dollar, but was still off levels below 6.78 against the greenback seen earlier this week. The offshore Chinese yuan was at 6.8263 per dollar, also weaker than levels below 6.8 seen earlier in the trading week.

In other markets

In Singapore, the Straits Times Index regained 21.46 points, or 0.9%, to 2.472.28.

In Korea, the Kospi re-strengthened 6.09 points, or 0.3%, to 2,278.79.

In Taiwan, the Taiex index dropped 31.47 points, or 0.3%, to 12,232.91.

In New Zealand, the NZX 50 gained 107.19 points, or 0.9%, to 11,797.09.

In Australia, the ASX 200 moved forward 88.98 points, or 1.5%, to 5,964.92.