Asian markets stabilise after rout but Evergrande fears lingerInvestors -- already battling concerns about Evergrande, the virus and Fed monetary tightening -- are keeping a nervous eye on Capitol Hill as US lawmakers struggle to lift the country's debt ceiling in order to pay its billsHONG KONG - Equities fluctuated in Asia on Tuesday, with investors nervously keeping an eye on troubled property giant China Evergrande after fears over its possible collapse sparked a rout across global markets. Most experts expect the firm to default on the payments, though it does have a 30-day grace period afterwards. "Even though most people don't expect Evergrande to collapse all of a sudden, the silence and a lack of major actions from policymakers is making everyone panic," Ding Shuang, at Standard Chartered, said. "Markets are clearly having some angst on the potential spillover effects from Evergrande, along with some nervousness over the September (policy) meeting," said Cliff Hodge, of Cornerstone Wealth. There is a growing concern that US lawmakers will not reach an agreement to raise the country's debt ceiling to keep the government running and pay its bills, with Republicans against the move.

Source: Bangkok Post September 21, 2021 02:48 UTC