Asia Mostly up on Wall Street Rebound

Shares in the Asia-Pacific mostly rose on Thursday following a rebound on Wall Street overnight. The rally in the U.S. came after the Bank of England said it would intervene in the bond market to stabilize conditions.

The Nikkei 225 recovered 248.07 points, or 1%, to 26,422.05.

In Hong Kong, the Hang Seng index declined 85.01 points, or 0.5%, to 17,165.87.

CHINA

In Shanghai, the CSI 300 handed over 1.57 points to 3,827.14.

Chinese electric vehicle maker Leapmotor’s shares tumbled more than 32% from its offer price of 48 Hong Kong dollars ($6.29 U.S.) per share on its first day of trade in the city.

Onewo, a subsidiary of property developer China Vanke, also started trading in Hong Kong. It fell as much as 7.9% from its offer price of 48 Hong Kong dollars, but recovered slightly and was last down around 5%.

The People’s Bank of China has warned against betting on the yuan in either direction, after its rapid decline against the U.S. dollar this week.

That’s based on a readout of a speech by vice governor Liu Guoqiang at a video conference meeting on foreign exchange that day.

In other markets

In Singapore, the Straits Times Index dropped 1.23 points to 3,115.08.

In Korea, the Kospi index inched upward 1.64 points, or 0.1%, to 2,170.93.

In Taiwan, the Taiex regained 68.19 points, or 0.5%, to 13,534.26

In Australia, the ASX 200 reversed course and moved upward 92.94 points, or 1.4%, to 6,554.97.

In New Zealand, the NZX 50 sprang back up 80.47 points, or 0.7%, to 11,200.04.