Hong Kong Leads Asian Rally

Shares in Asia-Pacific rose in Thursday trade, with Hong Kong stocks leading gains.

In Japan, the Nikkei 225 re-claimed 149.34 points, or 0.5%, to 27,678.21.

The Japanese yen traded at 111.29 per U.S. dollar, stronger than levels above 111.6 seen yesterday.

In Hong Kong, the Hang Seng soared 735.24, or 3.1%, to 24,701.73, as shares of Chinese tech giants Tencent rose 5.6% and Alibaba prospered 7.3%.

Hong Kong-listed shares of Chinese Estates, formerly a major shareholder of embattled developer China Evergrande, surged 31.7% after announcing Wednesday that it had received an offer to be taken private.

The broader real estate sector also rose, with the Hang Seng Properties index jumping 2%.

The Australian dollar changed hands at $0.7297 following yesterday’s bounce from below $0.724.

Markets in mainland China were closed for holiday.

In other markets

In Taiwan, the Taiex hiked 320.70 points, or 2%, to 16,713.86.

In Korea, the Kospi index gained 51.15 points, or 1.8%, to 2,959.46

In Singapore, the Straits Times moved up 17.27 points, or 0.6%, to 2,959.46

In New Zealand, the NZX 50 lost 61.83 points, or 0.5%, to 13,104.61

In Australia, the ASX 200 recovered 50.12 points, or 0.7%, at 7,256.66