Global shares are mostly lower in subdued trading on looming worries about China property woes.
FILE - Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Sept. 19, 2023. Asian shares were mostly lower Thursday, Sept. 28, in subdued trading on looming worries about China property woes. – Global shares were mostly lower Thursday in subdued trading on looming worries about China property woes.
Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong. That followed media reports that the chairman of Evergrande, Hui Ka Yan, had been taken away earlier this month and placed under police watch. “The relatively quiet economic calendar today may lead sentiments on a more subdued tone, while reservations on risk taking may continue to revolve around developments on China’s property sector,” said Yeap Jun Rong, market analyst at IG.Trading was closed in South Korea for a holiday. Japan's benchmark Nikkei 225 dropped 1.5% to 31,872.52. Sydney's S&P/ASX 200 slipped nearly 0.1% to 7,024.80.
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