SINGAPORE: Asian stocks struggled to shake off contagion fears on Tuesday and selling pressure persisted amid concern that troubles at indebted developer China Evergrande could ripple across the world economy, markets and financial system.
Hong Kong's Hang Seng hit a fresh 11-month low and was down 0.3% by midsession, with a early gains in banks and property stocks paring a little. Japan's Nikkei returned from a market holiday with a drop of almost 2%.
Currency, commodity and bond markets steadied, but overall demand for riskier assets remained low especially as the Federal Reserve is expected to step closer to tapering on Wednesday.
European futures rose 0.5% in the Asia session. FTSE futures advanced 0.7% and S&P 500 futures climbed 0.6% a dayRead More »