Asian stocks rally on eased Evergrande woes

Asian stock indexes rallied on Thursday after concerns eased regarding the financial strains of China's second-largest real-estate developer Evergrande Group.

Hong Kong's Hang Seng Index, where the firm is listed, ended 1.19 percent higher from Tuesday's finish. Wednesday was a holiday.

Benchmark indexes in Shanghai, Sydney and elsewhere also climbed.

Investor worries over the Chinese economy and financial markets receded after Evergrande announced on Wednesday that it would make an interest payment on a yuan-denominated bond due the next day.

But market players caution that the firm will default unless it completes similar payments on dollar-denominated bonds due on Thursday within a grace period of 30 business days.

They add that the situation will remain uncertain as Evergrande must also pay large amounts of interests on other bonds.