· Asia-Pacific stocks mixed; Evergrande Group shares surge following report it has paid some bondholders
Asia-Pacific stocks were mixed on Thursday, after data released overnight showed U.S. consumer inflation spiked in October.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.75%.
Australian stocks declined as the S&P/ASX 200 fell 0.63%.
South Korea’s Kospi shed 0.68%.
Shares of China Evergrande Group listed in Hong Kong surged 5.49%, following a report from Chinese media outlet Cailianshe that several bondholders received coupon payments from the debt-ridden developer.
Other real estate stocks in Hong Kong also rose, with China Vanke gaining 3.76% while Country Garden advanced 2.21%. The Hang Seng Properties index gained 1.68%.
· China stocks rise on bets of property policy easing
China’s blue-chip CSI300 index rose 0.9% in morning trading, while the Shanghai Composite Index gained 0.6%. Hong Kong’s benchmark Hang Seng index edged 0.2% lower.
Mainland Chinese stocks were higher, with the Shanghai composite up 0.59% while the Shenzhen component gained 0.859%.
· Japan shares rise on bargain hunting for undervalued stocks, cost woes weigh
The Nikkei 225 in Japan rose 0.5% while the Topix index gained 0.27%.
· European stocks uncertain after hotter-than-expected U.S. inflation data
European stocks were fractionally lower on Thursday morning as global markets digest the latest U.S. inflation data which showed faster-than-expected price rises.
The pan-European Stoxx 600 slipped 0.1% in early trade, with oil and gas stocks falling 1.1% while construction and material stocks added 1.1%.
Global markets began the day digesting the latest U.S. inflation data released on Wednesday which showed that October’s consumer price reading jumped at the hottest annual pace in more than three decades.
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