Wed, 08 Dec 2021

SYDNEY, NSW, Australia - Dramatic shortages of energy across the world, and corresponding escalating prices tempered trading on Asian stock markets on Tuesday.

Also unsettling markets were indications that China Evergrande has missed interest payments on a third bond coupon.

"Risk markets had a mixed start to the week amid light data flow and ahead of the US earnings season," ANZ analysts said in a note, according to Reuters.

"Economies appear to be entering a more challenging phase of the cycle and we think investors and corporates will be monitoring how the economic data and earnings results fall before making assessments of near term direction."

In Japan, the Nikkei 225 shed 267.59 points or 0.94 percent to 28,230.61.

The Australian All Ordinaries fell 25.50 points or 0.34 percent to 7,575.60.

The Hang Seng in Hong Kong dropped 362.50 points or 1.43 percent to 24,962.59.

China's Shanghai Composite was off 44.77 points or 1.25 percent at 3,546.94.

The U.S. dollar remained strong but steady. The euro drifted around 1.1566. The British pound was soft at 1.3605. The Japanese yen steadied after falling sharply to 113.00 overnight. The Swiss franc was unchanged at 0.9267.

The Canadian dollar traded in a tight range at 1.2477. The Australian dollar inched up to 0.7347. The New Zealand dollar was quiet at 0.6943.

Overnight on Wall Street, the Dow Jones closed down 250.19 points or 0.72 percent at 34,496.06.

The Nasdaq Composite shed 93.34 points or 0.64 percent to 14,486.20.

The Standard and Poor's 500 dropped 30.15 points or 0.69 percent to 4,361.19.

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