Tech Stocks Lead Hong Kong Higher

Shares in the Asia-Pacific traded higher on Monday as investors assess inflation and recession fears.

In Japan, the Nikkei 225 jumped 379.3 points, or 1.4%, to 26,871.27.

The Japanese yen traded at 135.04 per U.S. dollar, strengthening from levels above 136 against the greenback last week

In Hong Kong, the Hang Seng index popped 510.46 points, or 2.4%, to 22,229.52.

Alibaba’s shares in the Chinese city rose 3.7% while Meituan was up around 3.5%.

In company news, is set to report its first-quarter financial results on Monday in the U.S. after the market close. The firm’s shares in Hong Kong were 6.6% higher ahead of the announcement.

Construction materials company James Hardie Industries, which is listed in Australia, saw its stock rise 2%. Boral’s shares gained 2.5%.

The Australian dollar was at $0.6935.


In Shanghai, the CSI 300 gained 49.5 points, or 1.1%, to 4,444.27.

Later this week, China and Japan will be reporting Purchasing Managers’ Index data, while Hong Kong will commemorate the 25th anniversary of its handover. China’s President Xi Jinping will be attending the anniversary events, state media Xinhua reported over the weekend.

In other markets

In Singapore, the Straits Times Index grabbed 25.89 points, or 0.8%, to 3,137.54.

In Taiwan, the Taiex index jumped 244.69 points, or 1.6%, to 15,548.01.

In Korea, the Kospi gained 35.32points, or 1.5%, to 2,4,01.92.

In Australia, the ASX 200 climbed 127.25 points, or 1.9%, to 6,705.95.

In New Zealand, the NZX returned to trading Monday with a gain of 183.99 points, or 1.7%, to 10,997.92.