Hong Kong Pops On Return To Trade

(MENAFN- Baystreet.ca) Hong Kong Pops on Return to Trade






Advertisment

Shares in the Asia-Pacific traded higher on Wednesday after U.S. stocks rallied for a second day.
The Nikkei 225 gained another 128.32 points, or 0.5%, to 27,120.32.
In Hong Kong, the Hang Seng returned from holiday with a leap of 1,008.46 points, or 5.9%, to 18,087.97.
Heavyweights on the Hang Seng index pushed the broader market higher as investors returned from Tuesday's holiday.
HSBC closed 5.7% as the bank reportedly considers selling its wholly owned subsidiary in Canada.
Ping An, a major shareholder in HSBC, saw its shares close the trading day 9.6% higher.
Tech stocks in Hong Kong also buoyed the wider index, with JD.com soaring 10.1%. Alibaba advanced 8.4% and Meituan gained 8.2%.
TSMC's shares in Taiwan jumped as much as 5.13% after Morgan Stanley named the world's largest chip maker as the top pick in a note which predicted a semiconductor cycle recovery in the second half of 2023.
The investment bank said TSMC is an industry leader with pricing power.
The company's U.S.-listed stock also rose about 5% overnight.
Inflation in South Korea slowed slightly in September, according to official data released Wednesday.
In other markets
Markets in mainland China were still closed for holiday.
In Singapore, the Straits Times Index gained 14.33 points, or 0.5%, to 3,153.23.
In Taiwan, the Taiex jumped 224.91 points, or 1.7%, to 13,801.43
In Australia, the ASX 200 surged 116.39 points, or 1.7%, to 6,815.68.
In New Zealand, the NZX 50 improved 89.99 points, or 0.8%, to 11,180.02.

MENAFN05102022000212011056ID1104970875