Stock market today: Asian shares are mixed, with Chinese shares falling, ahead of Fed rate decision
ABC News
Asian shares are mixed, with Hong Kong and Shanghai declining, ahead of a decision by the Federal Reserve this week on interest rates
BANGKOK -- Asian shares were mixed on Tuesday, with Hong Kong and Shanghai leading declines, ahead of a decision by the Federal Reserve this week on interest rates.
U.S. futures slipped and oil prices edged higher.
Shares in property developer China Evergrande Group, the world's most heavily indebted real estate company with more than $300 billion in liabilities, remained suspended from trading after a Hong Kong court ordered the company to be liquidated because it is insolvent.
But shares in China Evergrande New Energy Vehicle Group gained 7% as they resumed trading after they also were suspended on Monday. Evergrande Property Services fell 1.3%.
Other property companies led the decline in Hong Kong, where the benchmark Hang Seng index sank 2.4% to 15,694.69. Country Garden tumbled 3.3% and Sunac China Holdings was down 7.1%. Guangzhou R&F Properties lost 5.5%.
