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Live news: Shimao bonds and share price drop after missed loan payment

Live news: Shimao bonds and share price drop after missed loan payment
Written by Publishing Team

Shares in the Asia-Pacific region rose on Friday morning, recovering some of the sharp losses incurred the previous day.

The biggest gains were in Australia, where the S&P/ASX 200 index rose as much as 1.7 percent after closing 2.7 percent lower on Thursday, and in South Korea, where the Kospi rose 1.3 percent.

Japan’s Topix and Hong Kong’s Hang Seng were also higher, while US futures were higher. The yield on the 10-year US Treasury fell 2 basis points to 1.71 per cent.

Economic data from India, which is set to publish GDP estimates for the year ending March 2022, may dampen market sentiment, while disappointing figures from Japan showed consumers cut spending for the fourth consecutive month in November.

In the US, the biggest looming event is the release of the country’s January payroll data. The stronger numbers could encourage the Federal Reserve to speed up interest rate increases, which would hurt rate-sensitive technology stocks.

US technology stocks slid at the end of a tumultuous trading day on Thursday, when mixed economic data paired with a hawkish bias from the US central bank clouded the investment outlook for stocks.

Wall Street’s tech heavyweight Nasdaq Composite Index fell 0.1 percent, as did the blue-chip S&P 500, with shares of big technology groups leading both ends of the index’s performance.

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