SINGAPORE – Asia Pacific stocks rose after trading gains overnight in the US on Friday as the S&P 500 hit a record high.
Chinese Kuaishou technology stocks rose nearly 200% on their debut in Hong Kong from the issue price of Hong Kong dollars 115 (approximately $ 14.83) per share. The stock later reduced those initial gains, but still rose more than 150% in the afternoon.
The reference index Hang Seng in Hong Kong gained 0.52%. Mainland China stocks also rose, with the Shanghai Composite gaining 0.46% while the Shenzhen component gaining 0.388%.
In Japan, the Nikkei 225 gained 1.41% while the Topix index rose 1.31%. South Korea’s Kospi gained 0.43%.
Shares in Australia rose as the S & P / ASX 200 rose 1.1%.
The broadest MSCI index for stocks in Asia Pacific outside Japan rose 0.44%.
On Wall Street overnight, the S&P 500 rose 1.1% to a record high of 3,871.74. The Dow Jones Industrial Average rose 332.26 points to close at 31,055.86, while the Nasdaq Composite rose 1.2% to 13,777.74, also making a new high.
Currencies and oil
The US dollar index, which tracks the greenback versus a basket of its peers, came in at 91.577 after previously rising from below 91.2.
The Japanese yen was trading at 105.54 per dollar after weakening against the greenback from below 105.2 yesterday. The Australian dollar changed hands at $ 0.7591 after falling above $ 0.764 yesterday.
Oil prices were higher during the afternoon session in Asia and the international benchmark Brent crude oil futures rose 0.65% to $ 59.22 a barrel. US crude oil futures rose 0.69% to $ 56.62 a barrel.
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