May 22, 2022

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Chinese tech stocks jump as Hong Kong leads gains among Asia-Pacific markets

Chinese tech stocks jump as Hong Kong leads gains among Asia-Pacific markets

Singapore – Hong Kong Hang Seng Index He led gains among major Asia Pacific markets on Monday as Chinese technology shares jumped in the city.

In morning trading, the Hang Seng Index rose about 1% of shares Tencent It jumped 2.16%. Shares of other Chinese technology companies also rose, with Ali Baba up 2.64% Netease It rose 4.91%.

Markets in mainland China are closed on Mondays and Tuesdays this week for holidays.

The Nikkei 225 Japanese stocks were trading slightly higher with SoftBank Group shares up 3.76%. Topix is ​​up 0.16%.

South Korea Cosby It fell 0.33% elsewhere in Australia S & P / ASX 200 It rose 0.43%.

MSCI’s broadest index of Asia Pacific shares outside Japan was trading at 0.4%.

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Currency and oil

The US dollar indexwhich measures the US currency against a basket of peers, was at 98.587, compared to levels below 98 seen in late March.

The Japanese Yen It traded at 122.41 per dollar, stronger than the levels above 124 seen against the dollar last week. The Australian dollar It was at $0.7499, having traded in a range between $0.747 and $0.753 for most of the past week.

Oil prices were lower in the morning of Asian trading hours, with the international standard Brent crude futures contracts It fell 0.67% to $103.69 a barrel. US crude futures contracts It fell 0.59% to $98.68 a barrel.

CNBC’s Patti Doom contributed to this report.

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