HONG KONG: Most Asian markets fell on Friday following a broadly healthy week, with traders hoping for fresh Chinese moves to help the country's troubled property sector after officials called on banks to provide support. However, with traders taking a breather, many markets dipped in Asia on Friday. That came after a report saying a draft list of firms eligible for bank support had been drawn up. "The property developer debt issue will be solved sooner or later," Jian Shi Cortesi, of GAM Investment Management, said. Saudi Arabia and Russia earlier this year announced cuts of a million barrels a day through to 2024 to support prices, and there had been expectations Riyadh was planning to extend that or even cut further.


Source:   Manila Times
November 25, 2023 04:09 UTC