📆 Wednesday, September 6
â–º Asian markets remain mixed, with Japan's market rising by over 0.7% and Chinese markets closing near flat.
â–º China's property sector, particular the China Evergrande Group and Sunac China Holdings experienced first a surge of more than 60% before retreating a bit in the final hours of Chinese/Hong-Kong trading. Speculation of further incentives and support from Beijing fueled the steep rise, but concerns remain about the massive debt of property developers. China Evergrande, for example, has over $300 billion in debt. Other property stocks like Country Garden and Logan Group witnessed gains of 16% and 23%, respectively.
â–º Bank of Japan board member Naoki Tamura indicating the central bank's intention to maintain current monetary settings. Japan's currency faced challenges due to a stronger USD, influenced by global economic uncertainties.
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