Categories: Market Overview

Hong Kong’s Hang Seng index jumps nearly 2% as optimism rises on Pfizer vaccine approval

Shares in Asia-Pacific rose in Tuesday trade, after the tech-heavy Nasdaq Composite jumped to a record closing high following the U.S. Food and Drug Administration’s full approval of Pfizer and BioNTech’s Covid-19 vaccine. Hong Kong’s Hang Seng index was up 1.56% by the afternoon as shares of Chinese tech firms listed in the city jumped: internet titan Tencent rose 4.56% while Meituan soared more than 9% and Alibaba advanced 5%. The Hang Seng Tech index gained 4.52%.

Meanwhile, automaker BYD’s semiconductor business was among 40 IPOs which were suspended as China’s bourses investigate intermediaries in those deals. Still, shares of BYD in Hong Kong were up 2.13% by Tuesday afternoon in the city. Mainland Chinese stocks were higher as the Shanghai composite rose 1% while the Shenzhen component advanced 0.856%.

Reuters reported that the U.S. Securities and Exchange Commission has began issuing new disclosure requirements to Chinese firms looking to list in New York, as part of a push to raise investor awareness of the risks involved. The Nikkei 225 in Japan gained 1.03%, as shares of conglomerate Softbank Group surged about 2%. The Topix index advanced 1.11%. South Korea’s Kospi jumped 1.44%.

In Australia, the S&P/ASX 200 edged 0.33% higher. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.31%. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.039 following a recent slip from above 93.2. The Japanese yen traded at 109.75 per dollar, stronger than levels above 110 seen against the greenback yesterday. The Australian dollar changed hands at $0.7216, still off levels above $0.729 seen last week.

Hong Kong’s Hang Seng index jumps nearly 2% as optimism rises on Pfizer vaccine approval, CNBC, Aug 24

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

2 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies