Asian markets feel pressure after trade was halted in shares of Chinese property giant that has payments due today
The JSE looks set to start in a risk-off environment on Monday morning, with investors still fearing potential contagion effects from a collapse of Chinese property giant Evergrande.
There still remains very little visibility from the Chinese government over Evergrande’s fate, though a slow, steady dismantling of the company appears to be the favoured course right now, said Oanda senior market analyst Jeffrey Halley in a note. The sheer size of the group, which is choking on a $300bn debt pile, has raised concerns of damage to the Chinese economy as a whole, as well as an effect on broader debt markets.
Gold was flat at $1,760.31/$, while platinum was little changed at $971.62. Brent crude was 0.86% higher at $78.99 a barrel.
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