NEW YORK, Sept 22 — World stock markets stabilised yesterday and oil prices regained ground a day after heavy selling of risk assets, as investors assessed the level of contagion stemming from distress at developer China Evergrande and awaited central bank meetings.
Investors were focused on the situation at Evergrande, where persistent default fears eclipsed efforts by the debt-laden group’s chairman to lift confidence as Beijing showed no sign it would intervene to stem any domino effects across the global economy. Central bank meetings in the United States and elsewhere in the world were soon to take centre stage for markets, with a Federal Reserve meeting due to conclude today as investors look for when it will ease its bond-buying programme.
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