S&P 500 Futures retreat as Evergrande trading suspended in Hong Kong

view original post

Monday morning in Asia, market chatters escalate over the financial health of the troubled Chinese real-estate firm Evergrande. Bloomberg cites the risk concerning Opaque bond tied to Evergrande while also mentioning China’s readiness to defend the economy from the default risk.

“Trading of China Evergrande Group shares was suspended in Hong Kong, along with those of its property management unit,” per Bloomberg.

On the same line, Anthony Barton from MNI News shares updates suggesting Hong Kong suspension on the trading of the debt-ridden firm’s shares.

The same weighs on the market sentiment and drags down the S&P 500 Futures which earlier used to print nearly 0.40% intraday gains, down 0.03% on a day at the latest.

Even so, an off in China restricts the market’s reaction to the news but the US Dollar Index (DXY) benefits from the sentiment-negative update, probing the commodities and Antipodeans.