HONG KONG : Asian shares were on edge on Friday hurt by persistent uncertainty around the fate of debt-ridden China Evergrande, even as more risk appetite drove gains for Wall Street and U.S. benchmark Treasury yields.
Japan's Nikkei rose 1.93per cent, however, catching up on global gains after a public holiday. Chinese blue chips reversed early losses to gain 0.6per cent after a cash injection from the central bank brought its weekly injection to 270 billion yuan - the largest since January.Investors continue to worry about the fate of property developer China Evergrande which faces an interest payment deadline due Thursday. Its shares fell 5.2per cent on Friday after bouncing 17.6per cent a day earlier.
"Growth in the large developed economies is above trend, likely to remain above trend and monetary policy remains very supportive of asset prices likely all the way through the middle of next year, he said. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all gained over 1per cent overnight, with the Federal Reserve's stance on tapering stimulus - set out on Wednesday - appearing to reassure investors that interest rates hikes remain a way away even if the tapering of its massive asset purchase programme is set to start this year. [.N]
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