HONG KONG, Dec 8 — Asian stocks were broadly up today after a strong lead from Wall Street, but fears lingered over China’s debt-hobbled property sector.
Kaisa, China’s 27th-largest property firm but one of its most indebted, became the latest company to spook investors when it announced Friday that it had failed in a bid for a debt swap that would buy it crucial time. Yesterday, Evergrande missed a deadline to repay some of its overseas creditors, raising the prospect of a default as it prepares for a government-backed mega-restructure.At the close in Hong Kong today, the Hang Seng Index was up 0.06 per cent at 23,996.87.Shanghai and Shenzhen both finished up by more than one per cent.
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