HK Hang Seng Jumps more than 2% as major Asia Indexes rise at least 1%
HK Hang Seng Jumps more than 2% as major Asia Indexes rise at least 1%

Shares in Asia-Pacific rose in Thursday trade, with Hong Kong stocks leading gains.

By Thursday afternoon in Hong Kong, the Hang Seng index in Hong Kong jumped 2.41% as shares of Chinese tech giants Tencent and Alibaba rose 3.45% and 5.54%, respectively.

Hong Kong-listed shares of Chinese Estates, formerly a major shareholder of embattled developer China Evergrande, surged more than 30% after announcing Wednesday that it had received an offer to be taken private.

The broader real estate sector also rose, with the Hang Seng Properties index jumping around 2%.

The Nikkei 225 in Japan rose 0.93% while the Topix index climbed 0.22%. South Korea’s Kospi advanced 1.73% while Taiwan’s Taiex gained 1.83%

Elsewhere, shares in Australia also rose, with the S&P/ASX 200 up 0.63%

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 1.52% higher.

Mainland China markets remain closed on Thursday for the holidays.

Overnight stateside, the Dow Jones Industrial Average rose 102.32 points to 34,416.99 while the S&P 500 gained 0.41% to 4,363.55. The Nasdaq Composite edged 0.47% higher to 14,501.91.

hose gains on Wall Street came on the back of rising optimism over a U.S. debt ceiling deal. Global markets have had a choppy October start so far amid fears over rising rates and inflation.

The benchmark U.S. 10-year Treasury yield recently crossed 1.5% and has largely sustained above that level, last sitting at 1.5381%


Nathan George

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