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Asia-Pacific stocks mixed; trading of Evergrande shares in Hong Kong halted

SINGAPORE — Shares in Asia-Pacific have been blended in Monday morning commerce after Merck introduced its new Covid oral antiviral remedy that cuts the chance of hospitalization or demise.

Hong Kong’s Dangle Seng index fell 0.78%. Buying and selling within the Hong Kong-listed shares of China Evergrande was halted on Monday as buyers proceed to observe the state of affairs surrounding the indebted developer. The property large has missed two bond curiosity funds up to now weeks. Buying and selling within the shares of Evergrande Property Services was additionally halted.

In Japan, the Nikkei 225 shed 0.57% whereas the Topix index dipped 0.24%.

Australian shares jumped, with the S&P/ASX 200 up 1.14%.

MSCI’s broadest index of Asia-Pacific shares exterior Japan traded 0.13% greater.

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Merck and Ridgeback Biotherapeutics announced Friday they’ve developed a drug which reduces the chance of hospitalization or demise by round 50% in Covid sufferers. If approved by regulatory our bodies, the drug may very well be the primary oral antiviral drugs for Covid.

The businesses plan to hunt emergency authorization for the antiviral Covid remedy after the medication confirmed “compelling outcomes” in medical trials.

Markets in China are closed for many of this week for holidays and are set to reopen on Friday. South Korean markets are additionally closed on Monday for a vacation.

Currencies and oil

The U.S. dollar index, which tracks the buck in opposition to a basket of its friends, was at 93.999 after a latest decline from above 94.4.

The Japanese yen traded at 110.97 per greenback, stronger than ranges round 112 seen in opposition to the buck final week. The Australian dollar modified fingers at $0.7265 following a bounce late final week from round $0.72.

Oil costs have been decrease within the morning of Asia buying and selling hours, with worldwide benchmark Brent crude futures down 0.11% to $79.19 per barrel. U.S. crude futures shed 0.18% to $75.74 per barrel.

 – CNBC’s Chloe Taylor contributed to this report.

https://www.cnbc.com/2021/10/04/asia-stocks-merck-covid-treatment-china-markets-closed.html | Asia-Pacific shares blended; buying and selling of Evergrande shares in Hong Kong halted

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