Hong Kong Stocks Jump, Tech Stocks Rebound

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2018-04-30 HKT 17:29

Share this story


  • Strong shows by US tech giants boosted investor sentiments. File photo: RTHK

    Strong shows by US tech giants boosted investor sentiments. File photo: RTHK

Hong Kong stocks soared on Monday, extending a rally at the end of last week, as tech firms tracked broad gains in their US counterparts.

The Hang Seng Index jumped 1.7 percent, to close at 30,808 as tech firms on Wall Street won support after healthy earnings figures from Amazon, Microsoft and Intel.

The markets on the mainland were closed for a public holiday. Tokyo markets were also closed for a holiday.

Seoul added 0.9 percent while Sydney gained 0.5 percent.

Singapore surged more than 1 percent, while Wellington, Manila, Taipei and Jakarta were all deep in positive territory.

Asian tech firms, which have been hammered in recent weeks by worries about the lucrative smartphone market, bounced back on Monday.

Hong Kong-listed AAC Technologies and Tencent each posted healthy gains, while in Taipei Apple suppliers TSMC was also sharply higher.

The US dollar enjoyed a fresh bout of buying thanks to a broadly positive mood about the world economy and easing worries over the China-US trade dispute.

"This week's US trade roadshow to China, which includes [key Trump administration officials] Steven Mnuchin, Robert Lighthizer and Larry Kudlow, has undoubtedly calmed investors' nerves, triggering an unwind of dollar risk premiums around tariff and trade," said Stephen Innes, head of Asia-Pacific trade at Oanda. (AFP)


US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more