Hong Kong stocks led gains among major Asia-Pacific markets on Friday, the last session of 2021, with Chinese tech stocks in the city soaring.
The Hang Seng index in Hong Kong jumped 1.2% to 23,397.67, paring some losses but still tumbling about 14% for the year.
Shares of Chinese tech firms listed in the city saw big gains on Friday, with Alibaba surging 8.2% and Meituan advancing 3.2% while Tencent rose 3%.
Markets in Australia, Hong Kong and Singapore closed early on Friday for the final trading day of the year. Elsewhere in Asia, markets in Japan and South Korea were closed on Friday.
CHINA
In China, the CSI 300 gained 18.87 points, or 0.4%, to 4,940.38
China’s factory activity saw an acceleration in growth during December, with the official manufacturing Purchasing Managers’ Index (PMI) coming in at 50.3 for that month from November’s reading of 50.1, according to data released Friday by the country’s National Bureau of Statistics.
That was above expectations of analysts who had expected the reading to fall slightly from the 50-point mark that separates growth from contraction, according to Reuters. PMI readings are sequential and represent month-on-month expansion or contraction.
In other markets
In Singapore, the Straits Times Index faded 2/96 points, or 0.1%, to 3,123.68
In Australia, the ASX 200 pulled back 68.73 points, or 0.9%, at 7,444.64.