Korea Sprints to New Record

Asia-Pacific stocks jumped on Friday, with shares in Hong Kong and mainland China among the region’s biggest gainers.

In Japan, the Nikkei 225 jumped 190.95 points, or 0.7%, to 29,066.18.

The Japanese yen traded at 110.75 per U.S. dollar, still weaker than levels below 110.4 seen against the greenback earlier in the trading week.

In Hong Kong, the Hang Seng popped 405.76 points, or 1.4%, to 29,228.22.

Shares of Chinese tech firms listed in the city surged: Tencent rose 2.7%, Alibaba jumped 2.6% while Meituan soared 4.8%.

Chinese electric vehicle maker XPeng on Friday announced the launch of its Hong Kong public offering. Media reports had the firm getting the green light to carry out an IPO in the city.

XPeng said the offer price for the Hong Kong public offering "will not be more than HK$180.00 per share" ($23 U.S.). The firm, already listed in the U.S., is set to carry out a dual primary listing that will subject it to the rules and oversight of both U.S. and Hong Kong regulators.

The Australian dollar changed hands at $0.7598, above levels below $0.756 seen earlier this week.

In other markets

In Shanghai, the CSI 300 soared 84 points, or 1.6%, to 5,239.97.

In Singapore, the Straits Times Index eked up 1.98 points, or 0.1% to 3,121.60

The Kospi index in Korea added 16.74 points, or 0.5%, to 3,302.84, a new record close.

In Taiwan, the Taiex index hiked 95.03 points, or 0.6%, to 17,502.99

In New Zealand, the NZX 50 strengthened 39.2 points, or 0.3%, to 12,626.09.

In Australia, the ASX 200 recovered 32.77 points, or 0.5%, to 7,308.05.