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Global markets follow mixed course

Global markets follow mixed course
Risk appetite down with developments on heavily indebted Evergrande and tension between US and China

By Murat Aslan

ISTANBUL (AA) - Despite strong third-quarter earnings above expectations, pricing has gotten harder in global markets due to the risks stemming from the Chinese real estate sector and concerns over tensions between the US and China.

The risk appetite in Asian markets lowered as Chinese authorities told the owner of China's heavily indebted Evergrande Group to pay his debts with his personal wealth.

Analysts said that China's attitude toward Evergrande may reflect its attitude toward the housing sector and that it is thought that similar problems may be seen in other companies.

Tensions between the world's two largest economies increased after China Telecom was banned in the US.

Meanwhile, rising COVID-19 cases in China have also decreased the risk appetite as authorities are refraining from easing restrictions that have hit economic activity.

In Europe, all major indices closed Tuesday in positive territory in the runup to Thursday’s European Central Bank's (ECB) meeting where no increase in interest rates is expected.

source: News Feed
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