To the actions in Hong Kong ended the week with their best daily performance in three months, joining an Asian rally boosted by US Senate approval. U.S legislation that will prevent debt default, raising expectations that the Federal Reserve can stop the increase in the rate of fees.
Hong Kong’s Hang Seng Index surged 4.02%, its biggest one-day gain since March 1, after hitting six-month lows this week on concerns over rising prices. China and geopolitical tensions.
The CSI300 index, which brings together the largest companies listed in Shanghai and Shenzhen, gained 1.44%, while the Shanghai index rose 0.79%.
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For the week, the CSI300 was up 0.3%, while the Hang Seng was up 1.1%.
Asian stocks rose on Friday after the US Senate passed bipartisan legislation raising the government’s $31.4 trillion debt ceiling. The measure now awaits the sanction of the US president, Joe Biden.
Appetite for risky assets was also fueled by bets that the Federal Reserve might pause interest rate hikes at its next meeting.
In TOKYO, the Nikkei index advanced 1.21%, to 31,524 points.
In HONG KONG, the HANG SENG index rose 4.02% to 18,949 points.
In SHANGHAI, the SSEC index gained 0.79% to 3,230 points.
The CSI300 index, which gathers the largest companies listed in SHANGHAI and SHENZHEN, advanced 1.44%, to 3,861 points.
In SEOUL, the KOSPI index appreciated by 1.25%, at 2,601 points.
In TAIWAN, the TAIEX index rose 1.18% to 16,706 points.
In SINGAPORE, the STRAITS TIMES index gained 0.24% to 3,166 points.
In SYDNEY, the S&P/ASX 200 index advanced 0.48% to 7,145 points.
Source: Moneytimes
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