HONG KONG : Asian shares were on edge on Friday, hurt by persistent uncertainty around the fate of debt-ridden China Evergrande, even as increased risk appetite drove U.S. stocks and Treasury yields higher.
Investors continued to worry about the fate of property developer Evergrande which missed an interest payment deadline on Thursday and has entered a 30-day grace period. Ray Ferris, chief investment officer for South Asia at Credit Suisse, said that while investors were jittery about China's prospects due to woes in the property sector and a slew of regulatory changes, there was positive sentiment elsewhere.
The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all gained more than 1per cent overnight, as investors appeared to take the Federal Reserve's latest tapering signals in stride. [.N] The yield on benchmark 10-year Treasury notes firmed marginally to 1.444per cent, its highest since July 2, gaining 15 basis points over the last two days.
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