Asian stocks were mostly higher on Thursday, 23 September 2021, as investors digest the Fed's plans to taper the stimulus program and receding fears of a corporate collapse in China after embattled property giant China Evergrande reached settlement with mainland bondholders.
Market fears of a corporate collapse in China receded after China Evergrande reached settlement with mainland bondholders. China Evergrande Group's chairman said the firm's top priority is to help wealth investors redeem their products.
Investors were focused on the U.S. Federal Reserve after he said overnight it will likely begin reducing its monthly bond purchases as soon as November and signalled interest rate increases may follow more quickly than expected.
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