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Asian stocks recouped early losses to end on a flat note Friday as embattled developer China Evergrande Group made a bond payment, just before the 30-day grace period expired.<\/p>\n
Chinese shares ended a tad lower, with the benchmark Shanghai Composite closing down 12.18 points, or 0.34 percent, at 3,582.60.<\/p>\n
Hong Kong’s Hang Seng index edged up 0.42 percent to close at 26,126.93. China Evergrande shares jumped 4.3 percent after reports it has supplied funds to pay interest on a dollar bond.<\/p>\n
Japanese shares advanced after a survey showed factory activity growth in the country picked up in October from the previous month and the services sector expanded for the first time in 21 months.<\/p>\n
The upside was capped by concerns about potential contagion from China Evergrande’s debt crisis and uncertainties ahead of the nation’s general election.<\/p>\n
The Nikkei average rose 96.27 points, or 0.34 percent, to 28,804.85 while the broader Topix index finished marginally higher at 2,002.23.<\/p>\n
Technology shares topped the gainers list, with Tokyo Electron rising 4.4 percent and Screen Holdings climbing 5 percent. Semiconductor company Disco jumped 3 percent after posting a 71 percent jump in its first-half operating profit.<\/p>\n
Australian markets<\/span> fluctuated before ending on a flat note after a survey showed the manufacturing sector in the country expanded at a faster pace in October. <\/p>\n Mining heavyweights BHP and Rio Tinto fell around 2 percent as a result of plunging iron ore prices and concerns over debt defaults by Chinese property developers.<\/p>\n Energy stocks such as Oil Search, Santos and Woodside Petroleum lost 2-3 percent after oil extended overnight declines. A strong U.S. dollar lifted export-reliant healthcare stocks, with Healius and Ramsay Health climbing 4 percent and 2.6 percent, respectively. <\/p>\n Rail operator Aurizon plunged 6.2 percent after it agreed to buy Macquarie Group Ltd.’s asset management arm for 2.35 billion Australian dollars (US$1.76 billion).<\/p>\n Seoul stocks ended little changed with a negative bias as Evergrande’s debt troubles posed a systematic risk to China’s financial system. Chipmaker SK Hynix gained 2.3 percent and leading car battery firm LG Chem added 1.5 percent while steelmaker POSCO shed 2.4 percent.<\/p>\n New Zealand shares ended a choppy session lower as the government set an ambitious target of fully vaccinating 90 percent of all eligible people to end coronavirus<\/span> lockdowns.<\/p>\n The benchmark NZX-50 index dropped 32.74 points, or 0.25 percent, to 13,093.24 in a relatively quiet session ahead of the three-day weekend. A2 Milk shares slumped 4 percent on reports the infant-formula maker is facing a second class action claim.<\/p>\n Overnight, U.S. stocks rose broadly on economic optimism after data showed initial jobless claims fell to a 19-month low last week and existing home sales rebounded by much more than expected in September.<\/p>\n The tech-heavy Nasdaq Composite gained 0.6 percent and the S&P 500 rose 0.3 percent to extend gains for the seventh straight session and reach a new record close, while the Dow finished marginally lower. <\/p>\n<\/p>\n<\/div>\n