Pacific Money

With Tech-Driven Rebound, Asian Markets Turn Corner on Evergrande Crisis

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Pacific Money | Economy | East Asia

With Tech-Driven Rebound, Asian Markets Turn Corner on Evergrande Crisis

After a tumultuous third quarter, Asian markets appear to be embarking on recovery following fears of an Evergrande default.

With Tech-Driven Rebound, Asian Markets Turn Corner on Evergrande Crisis
Credit: Pixabay

Asian stocks, alongside many of their global counterparts, have recently undergone a healthy rebound upward as the embattled Chinese property giant Evergrande reportedly made its bond interest payments – a feat some onlookers feared wouldn’t happen.

Leading technology names across Asia have contributed to the market recovery also. Tech stocks have been at the forefront of the markets as they seek to accelerate away from September’s Evergrande crisis. Notably, the Hang Seng TECH (HSTECH) sub index has helped to drive some growth at the beginning of the fourth quarter, along with the general Hong Kong benchmark Hang Seng Index (HSI).

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