Sharp price rises have been recorded in most markets in Asia, especially in Hong Kong which has suffered sharp declines in recent days and a fall in Chinese stocks. On Tuesday, the index fell 6% to its lowest rate since February 2016, and is now sharply correcting.
The Hong Kong Hong Kong Index is currently above 85, with Tencent up 20% as well as Alibaba and NetEase. The Hong Kong Hong Kong Technology Stocks Index jumps 19.8%.
In China, indices are rising at a more modest, but still very high, rate. The Shanghai Composite Index is up 3.4%. And the Shenzhen index at 3.6%.
Chinese technology stocks have been under pressure recently in the face of tensions with the United States and with the Chinese authorities. Tsentet could face a large fine in China, and the United States could wipe out some companies from trading. There were also fears of the corona erupting in the east, with a number of cities in China even entering a severe closure.
In Japan, the Nicki 225 is up 1.7%, in South Korea the cosmic is up 1.4% and Australia is content with a more moderate increase of 1.1%. The broad Asia-Pacific MSCI index is up 3.7%.
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