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Asia-Pacific stocks rise; JD.com shares in Hong Kong surge following Singles Day shopping event

Soegeefx AppsAsia MarketAsia-Pacific stocks rise; JD.com shares in Hong Kong surge following Singles Day shopping event

Key Points

  • Shares in Asia-Pacific mostly rose in Friday trade.
  • Hong Kong’s Hang Seng index gained in morning trade, with shares of JD.com soaring following the Singles Day online shopping event, while Alibaba edged higher.
  • Chinese chipmaker Semiconductor Manufacturing International Corporation dropped after the firm said a top executive and multiple board members resigned.

SINGAPORE — Shares in Asia-Pacific mostly rose in Friday trade following overnight gains for tech stocks stateside as the Nasdaq Composite rebounded.

Hong Kong’s Hang Seng index gained 0.7% in morning trade, with shares of JD.com soaring nearly 5% following the Singles Day online shopping event, while Alibaba edged around 0.3% higher.

Meanwhile, Hong Kong-listed shares of Chinese chipmaker Semiconductor Manufacturing International Corporation dropped nearly 4% after the firm said a top executive and multiple board members resigned. The Hang Seng Tech index gained more than 1%.

Mainland Chinese stocks lagged the broader region, with the Shanghai composite and Shenzhen component both fractionally lower.

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Japan’s Nikkei 225 gained 1.01% while the Topix index rose 1.19%. In South Korea, the Kospi climbed 1.22%.

Australian stocks also rose as the S&P/ASX 200 gained 0.96%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.52% higher.

Overnight stateside, the tech-heavy Nasdaq Composite rose 0.52% to 15,704.28 while the S&P 500 advanced slightly to 4,649.27. The Dow Jones Industrial Average lagged, declining 158.71 points to 35,921.23.

Source : CNBC

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