Asia, Hong Kong Find Way Out of Slump

Shares in Hong Kong continued to see a rebound on Thursday from a two-day slump earlier in the week. Meanwhile, Asia-Pacific markets rose after the U.S. Federal Reserve left its benchmark interest rate near zero.

In Japan, the Nikkei 225 hiked 200.76 points, or 0.7%, to 27,752.42.

Shares of Softbank Group in Japan jumped 4.1%. The Japanese conglomerate is selling about one-third of its stake in ride-hailing company Uber to cover losses on its investment in Chinese ride-hailing company Didi.

Sony Group’s stock also surged 3.5%. Those gains came after Sony Interactive Entertainment announced Wednesday that more than 10 million PlayStation 5 units have been sold since launch, remaining the fast-selling console in the company’s history.

The Japanese yen traded at 109.80 per U.S. dollar, compared to an earlier low of 109.95 against the greenback.

In Hong Kong, the Hang Seng popped 841.44 points, or 3.3%, to 26,314.32, The index had dived more than 8% over two days early this week.

Chinese tech stocks in Hong Kong, which were hit hard by the market rout earlier in the week, soared. Shares of Tencent jumped 10% while Alibaba gained 7.7% and Meituan climbed 9.5%.

The Australian dollar changed hands at $0.74 after seeing an earlier low of $0.7357.

CHINA

In Shanghai, the CSI 300 gained 89.79 points, or 1.9%, to 4,850.27.

China’s securities regulators told brokerages late Wednesday that the country will allow Chinese firms to go public in the U.S. as long as they meet listing requirements.

In other markets

The Kospi index in Korea edged up 5.79 points, or 0.2%, to 3,242.65.

In Taiwan, the Taiex index surged 267.59 points, or 1.6%, to 17,402.81

In Singapore, the Straits Times Index piled on 38.86 points, or 1.2%, to 3,180.61.

In New Zealand, the NZX 50 moved forward 133.53 points, or 1.1%, to 12,728.85.

In Australia, the ASX 200 added 38.1 points, or 0.5%, to 7,417.39