Hong Kong stocks set a fresh closing high for this year on Wednesday, as property stocks rallied on reports that more Chinese cities have eased their curbs on property purchases.
The Hang Seng Index in Hong Kong zoomed 189.76 points, or 0.8%, higher to 23,971.87, after yesterday’s rise of nearly 400 points.
More than 20 Chinese cities have lifted or eased their curbs on property purchases, according to various media reports in China on Wednesday.
Mainland developers jumped, as China Resources Land surged 7.5%, Shimao Property Holdings leapt 5.8%, China Vanke Co. spiked 5.7%, and Greentown China Holdings climbed 4.9%.
Banks also posted broad gains, with China Minsheng Banking Corp. gaining 2%, and both Bank of China and Agricultural Bank of China adding 1.7%.
The Nikkei 225 in Tokyo fell 14.72 points, or 0.1%, to 15,328.56, while the yen strengthened to ¥101.35 per U.S. dollar from ¥101.47 per dollar in the previous session
In other markets;
The Shanghai CSI 300 index added 5.14 points, or 0.2%, to 2,197.83
In Korea, the Kospi index dipped 0.61 points to 2,028.32
Singapore’s Straits Times Index took on 23.79 points, or 0.7%, to 3,340.70
In New Zealand, the NZX 50 gained 12.66 points, or 0.3%, to 5,146.53
Australia’s S&P/ASX 200 picked up 33.45 points, or 0.6%, to 5,576.75
Markets in Taiwan were shuttered for a holiday
