Shares in Asia-Pacific rose in Thursday trade as the Chinese markets continue to extend gains from a rebound, while the U.S. Federal Reserve announced its first rate hike in more than three years.
In Japan, the Nikkei 225 index jumped 890.88 points, or 3.5%, to 26,682.89.
The Japanese yen traded at 118.71 per U.S. dollar, weaker than levels below 118 seen against the greenback earlier this week.
In Hong Kong, the Hang Seng index popped 1,413.73, or 7%, to 21,501.23, and erased heavy losses from earlier in the week. On Wednesday, the benchmark index saw its best day since October 2008 as it rocketed 9%.
Tencent was up 6.3%, Alibaba jumping 12.5% and JD.com surged 15.9%.
Chinese real estate stocks in Hong Kong soared on Thursday, with Country Garden up 28.4%, Sunac rocketing 59% and China Evergrande Group popping 17.8%.
The Australian dollar changed hands at $0.7327, extending gains after yesterday’s jump from below $0.72.
CHINA
In Shanghai, the CSI 300 gained 81.62 points, or 2%, to 4,237.70.
On Wednesday, China markets bounced after a Chinese state media report signaled support for Chinese stocks. U.S.-listed Chinese stocks followed suit. The report said regulators from both countries are working toward a cooperation plan on U.S.-listed Chinese stocks.
It also said authorities would work toward stability in the struggling real estate sector. China’s Ministry of Finance also announced there were no plans to expand a test of property tax this year.
In other markets,
In Singapore, the Straits Times Index progressed 31.81 points, or 1%, to 3,322.71
In Korea, the Kospi index moved higher 35.28 points, or 1.3%, to 2,694.51
In Taiwan, the Taiex index moved skyward 507.39 points, or 3%, to 17,448.22.
In New Zealand, the NZX 50 leaped 124.86 points, or 1.1%, to 11,998.96.
In Australia, the ASX 200 gained 75.56 points, or 1.1%, to 7,250.80.
