Tech shares in the Asia-Pacific market rise regionally

Tech shares in the Asia-Pacific market rise regionally

Shares in Singapore-Asia-Pacific traded higher on Tuesday, with technology stocks in the region jumping after their counterparts on Wall Street received similar gains overnight.

In mainland China, the Shanghai composite rose 0.7% by noon, while the Shenzhen component was up 0.926%. Hong Kong’s Hang Seng Index rose 1.18%.

The Nikkei 225 in Japan rose 0.67% while the Topics index rose 0.39%. South Korea’s Kospi rose 0.66%.

Shares in Australia were also higher, with the S&P / ASX 200 up 0.18%. The minutes of the Australian Reserve Bank’s October monetary policy meeting showed the RBA expecting the Australian economy to “return to growth in the December quarter and return to the East-Delta route by the end of 2022”.

Outside Japan, MSCI’s broader Asia-Pacific stock index rose 0.99%.

Tech stocks rise
Tech stocks in Asia traded higher on Tuesday, with the Hong Kong Hang Seng Tech Index jumping 2.25%. Hong Kong-listed shares of Alibaba and Meetuan rose 1.29% and 2.07%, respectively.

Shares of Japanese group Softbank Group also rose 3.01%, while shares of South Korean chipmaker SK Hynix rose 0.62%.

Investors kept an eye on shares of Apple’s Apple supplier in Asia after the Cupertino-based tech giant announced new products on Monday.

In Japan, shares of Taiyo Yuden fell 2.21%, while Murata Manufacturing fell 0.74%.

Elsewhere, shares of Taiwan Semiconductor Manufacturing Company in Taiwan rose 1.36%. Luxshare stock rose 7.07% in mainland China.

Overnight on the Wall Street, the S&P 500 rose 0.34% to 4,486.46 and the Nasdaq Composite rose 0.84% ​​to 15,021.81. The Dow Jones Industrial Average fell 36.15 points to 35,258.61.

Currency and oil
The US dollar index, which tracks the greenback against the basket of its peers, was 93.686, up from an earlier high of 93.947.

The Japanese yen traded at 114.10 against the dollar after weakening below 113.4 against the greenback last week. The Australian dollar changed hands at 7 0.7454, down $ 0.74 from yesterday.

Oil prices were higher during Asian trading hours, with international benchmark Brent crude futures marginally rising to $ 84.35 a barrel. US crude futures rose 0.11% to $ 82.53 a barrel.

Sneha Mali

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