Stock markets in Asia were on tenterhooks on Friday, as no tangible progress was noted on the Evergrande scenario and no clarifications were forthcoming from the company on the payment of coupon on the debt-ridden company's dollar denominated bonds.
The beleaguered property group's shares on the Hong Kong Stock Exchange dropped more than 11 percent as a potential debt default sent chills through debt and equity markets in the region.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.