fbpx

Asia-Pacific markets rise; JD shares in Hong Kong plunge 7% after Tencent says it will dilute stake

Soegeefx AppsAsia MarketAsia-Pacific markets rise; JD shares in Hong Kong plunge 7% after Tencent says it will dilute stake

Key Points

  • Asia-Pacific markets rose in Thursday trade, seeing a continued rebound from fears over the omicron Covid variant.
  • Hong Kong-listed shares of Chinese e-commerce titan JD.com plunged 7.09% while Tencent surged 4.02%. Those moves came after Tencent announced it will distribute majority of its shares in JD.com to its shareholders.
  • Investors watched for moves in the mainland Chinese markets after the city of Xi’an ordered its 13 million residents to stay at home as it attempts to deal with rising Covid cases, according to Reuters.

SINGAPORE — Shares in Asia-Pacific rose in Thursday trade, as fears over the omicron Covid variant eased.

Hong Kong-listed shares of Chinese e-commerce titan JD.com plunged 7.09% while Tencent surged 4.02%. Those moves came after Tencent announced it will distribute majority of its shares in JD.com to its shareholders, effectively diluting its stake in the e-commerce firm from around 17% to approximately 2.3%.

Hong Kong’s Hang Seng index shed earlier gains, rising 0.16% by the afternoon.

Mainland Chinese stocks were higher, with the Shanghai composite up 0.13% while the Shenzhen component climbed 0.256%. Investors continued monitoring Covid developments in the country after the major Chinese city of Xi’an entered a lockdown on Thursday as authorities seek to control a flare-up of Covid cases.

The Nikkei 225 in Japan nudged 0.49% higher while the Topix index gained 0.6%. South Korea’s Kospi climbed 0.23%.

Elsewhere, the S&P/ASX 200 in Australia gained 0.22%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.53% higher.

Stock picks and investing trends from CNBC Pro:

Wall Street analysts are backing these global stocks to beat Big Tech next year

Hydrogen, chips and more: Fund managers and analysts name their top stocks for 2022

Small-cap stocks could be ready to snap back in January led by these names, top strategist says

Overnight stateside, the Dow Jones Industrial Average gained 261.19 points to 35,753.89 while the S&P 500 rose 1.02% to 4,696.56. The Nasdaq Composite jumped 1.18% to 15,521.89.

Those gains on Wall Street came after the U.S. Food and Drug Administration on Wednesday granted authorization for Pfizer’s Covid treatment pill, the first oral antiviral drug cleared during the pandemic.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index *NIKKEI 28725.34 163.13 0.57
.HSI Hang Seng Index *HSI 23170.01 67.68 0.29
.AXJO S&P/ASX 200 *ASX 200 7387.6 22.8 0.31
.SSEC Shanghai *SHANGHAI 3626.36 3.74 0.1
.KS11 KOSPI Index *KOSPI 2989.53 5.05 0.17
.FTFCNBCA CNBC 100 ASIA IDX *CNBC 100 9880.31 79.18 0.81

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.045 after a recent slide from above 96.3.

The Japanese yen traded at 114.12 per dollar after weakening earlier this week from levels below 113.6 against the greenback. The Australian dollar was at $0.7206 after yesterday’s surge from around $0.712.

Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.23% to $75.46 per barrel. U.S. crude futures advanced 0.26% to $72.95 per barrel.

Source : CNBC

You might also like

Leave a Reply




Enter Captcha Here :