Asian shares were mixed on Tuesday following the global sell-off Monday due to contagion risks from debt trouble at China Evergrande. The Nikkei 225 sank 2.2% on its first trading day of the week as investors return from a holiday and react to Chinese turmoil. Equities in Hong Kong extended their losses (-0.2%), hovering at over an 11-month low, with shares of the cash-strapped developer continuing to slide, falling by 3.1%. Evergrande is due to pay $83.5 million in interest relating to its March 2022 bond on Thursday. It has another $47.5 million payment due on September 29th for March 2024 notes. Stocks in Australia rose 0.3% however after falling slightly in the early session, after RBA’s meeting minutes showed that the economy will return to its pre-Delta path by mid-2022. Markets in China and South Korea remained closed for holidays.
