Hong Kong Leads Gains in Positive Asian Session - InvestingChannel

Hong Kong Leads Gains in Positive Asian Session

Stocks in major Asia-Pacific markets were higher on Monday as investors continued to monitor the situation surrounding the coronavirus pandemic.

The Nikkei 225 regained 190.84 points, or 0.7%, to 28,822.29.

The Japanese yen traded at 103.73 per dollar following levels below 103.5 against the U.S. dollar seen last week.

The Hang Seng index in Hong Kong hurtled skyward 711.16 points, or 2.4%, to 30,159.01.

Hong Kong-listed shares of China Evergrande New Energy Vehicle Group, the electric car unit of Evergrande, surged 51.7% on Monday after the firm announced it has lined up investors for a $3.35-billion share placement. China Evergrande Group shares in Hong Kong also jumped 7.3% on the day.

In Hong Kong, the government on early Monday lifted a lockdown in an area of the Kowloon district after around 7,000 people were tested for coronavirus.

Globally, more than 99 million people have been infected by COVID-19 and at least 2,127,206 lives have been taken, according to data compiled by Johns Hopkins University.

The Australian dollar changed hands at $0.773, off levels above $0.776 seen last week.

CHINA

In Shanghai, the CSI 300 gained 56.14 points, or 1%, to 5,625.92

Amid the pandemic, China surpassed the U.S. as the world’s largest recipient of foreign direct investment, according to a report released Sunday from the United Nations Conference on Trade and Development.

China brought in $163 billion in inflows last year, compared to $134 billion attracted by the U.S., according to the report.

Investors also awaited Chinese President Xi Jinping’s keynote address at the Davos Agenda 2021 on Monday night Asia time.

In other markets

In Shanghai, the CSI 300 gained 56.14 points, or 1%, to 5,625.92

In Korea, the Kospi index recaptured 68.36 points, or 2.2%, to 3,208.99

In Singapore, the Straits Times dropped 17.88 points, or 0.6%, to 2,973.65

In Taiwan, the Taiex Index slid 72.49 points, or 0.5%, to 15,946.54

In New Zealand, the NZX 50 added 65.67 points, or 0.5%, to 13,399.10.

In Australia, the ASX 200 restocked 24.35 points, or 0.4%, to 6,842.71