Evergrande shares soar as authorities show their hand – Asian Midday Marketwatch

Evergrande shares jumps more than 12%, paring some gains after soaring more than 20% earlier, although its year-to-date plunge is still more than 80%. Kelvin gives detailed insights into what could pan out for Evergrande over the next few days and also how the risk of default may be negated by authorities actions.

Kelvin also shares his insights on regional markets and talks about:

• Market performance across the region in the first half of the day which is positive overall for regional markets namely because;

i) The Fed kept benchmark interest rates anchored near zero. Officials indicated they expect to begin reducing monthly asset purchases “soon,” but did not say when. Economic projections pointed to slower overall growth this year but higher inflation than previously projected.

Guest: Kelvin Wong, Market Strategist at CMC Markets

Presenter: Brian Fernandez

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