Asia stocks gain after Evergrande’s liquidation

Asian markets advanced after heavily indebted property Chinese developer Evergrande was ordered to undergo liquidation. The Hang Seng index added 0.8 per cent to 16080.85 and Tokyo’s Nikkei 225 index was up 0.7 per cent at 36,026.94.

Elsewhere, though, Chinese stimulus optimism provided additional momentum to markets that had already started the day on a firm footing. South Korea’s Kospi opens new tab advanced 0.89 per cent at 2500.65.

It is worth mentioning that Bloomberg Intelligence gauge of Chinese real estate developers was down one per cent in afternoon trading after climbing as much as 3.8 per cent.