Japan Leads Gains In Asia
(MENAFN- Baystreet)
Asia-Pacific markets rose Tuesday, following an overnight rally in technology shares on Wall Street that saw the S&P500 and nasdaq Composite post back-to-back gains.
In Japan, the NIKKEI 225 recovered from Monday's collapse, gaining 776.25 points, or 2%, to 40,053.30, due to a rally in tech stocks.
In Hong Kong, the Hang Seng index dumped 240.71 points, or 1.2%, to 19,447.58.
Shares of Nippon Steel fell about 1.52% after the company, along with U.S. Steel, sued the U.S. government over President Joe Biden's decision to block Nippon Steel's $14.9-billion takeover of the U.S company.
Hong Kong-listed tech stocks are in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings and battery maker CATL to a list of firms it calls“Chinese military companies.”
Tencent's Hong Kong-listed shares are currently down almost 8%.
Taiwanese chip manufacturer Taiwan Semiconductor Manufacturing Company hit a fresh high on Tuesday, building on the previous session's gains.
In other markets,
The CSI 300 regained 27.14 points, or 0.7%, to 3,796.11.
In Singapore, the Straits Times index inched ahead 6.33 points, or 0.2%. to 3,828.17
In Korea, the Kospi index eked up 3.46 points, or 0.1%, to 2,492.10.
In Taiwan, the Taiex index added 103.56 points, or 0.4%, to 23,651.27.
In New Zealand, the NZX 50 dropped 30.87 points, or 0.2%, to 13,042.06.
In Australia, the ASX 200 picked up 27.65 points, or 0.3%, to 8,285.09.
MENAFN07012025000212011056ID1109063295
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.