HSI Rallies As Asian Markets Touch New Highs

Asian equities reached historic highs on Monday as robust economic data from the mainland and Japan fuelled investor optimism.

Here at home, the Hang Seng Index finished higher as well, rallying 224 points or 0.9 percent to finish at 26,381, on turnover of HK$145.3 billion.

Companies soon to be added to the blue-chip indices surged. Meituan Dianping gained 4.6 percent; Anta Sports soared almost 7 present; and Budweisser advanced 6 percent.

But mainland mobile firms continued to come under selling pressure after US President Donald Trump ordered a ban on investments for firms said to be linked to the Chinese military.

China Mobile retreated 3.8 percent and China Unicom shed 1.8 percent.

Upbeat Chinese factory output data boosted markets across the border. The Shanghai Composite index put on 1.1 percent, while the blue-chip CSI300 index added 1 percent. The Shenzhen Composite index was up 0.9 percent.

Across the region, MSCI's broadest index of Asia-Pacific shares outside Japan reached a record high since its launch in 1987.

Japan’s Nikkei jumped 2 percent to a 29-year high after data showed the world’s third-largest economy had emerged from a recession.

South Korea’s Kospi closed up nearly 2 percent, hitting its highest since early 2018.

Australia’s ASX 200 added 1.2 percent, touching its peak in eight months before a glitch halted trade.

Taiwan leapt 2 percent.