Asian Markets

Asian Pacific Stocks Rise, U.S Fed Leaves Benchmark Interest Rate at Zero

Asia-Pacific markets rose after the U.S. Federal Reserve left its benchmark interest rate near zero meanwhile, shares in Hong Kong continued to see a rebound on Thursday from a two-day slump earlier in the week.

Hong Kong’s Hang Seng index jumped 3.3% to close at 26,315.32. The index had dived more than 8% over two days early this week.

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Hang seng Index Performance Chart

Chinese tech stocks in Hong Kong, which were hit hard by the market rout earlier in the week, soared. The shares of Tencent jumped 10.02% while Alibaba gained 7.7% and Meituan climbed 9.49%. The Hang Seng Tech index soared 8% to 6,958.77.

Mainland Chinese stocks also saw strong gains, with the Shanghai composite up 1.49% to close at 3,411.72 and the Shenzhen component surging 3.045% to finish the trading day at 14,515.32.

China’s securities regulators told brokerages late Wednesday that the country will allow Chinese firms to go public in the U.S. as long as they meet listing requirements, a source familiar with the matter told CNBC.

In Japan, the Nikkei 225 advanced 0.73% to close at 27,782.42 while the Topix index gained 0.41% to finish the trading day at 1,927.43.

Elsewhere, South Korea’s Kospi rose 0.18% on the day to 3,242.65 while the S&P/ASX 200 in Australia climbed 0.52% to close at 7,417.40. While the MSCI’s broadest index of Asia-Pacific shares outside Japan gained 2.1%.

Asian Markets Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.072 after a recent drop from around 92.7.

The Japanese yen traded at 109.80 per dollar, compared to an earlier low of 109.95 against the greenback. The Australian dollar changed hands at $0.74 after seeing an earlier low of $0.7357.

Oil prices were higher in the afternoon of Asia trading hours, with Brent crude futures rising 1% to $75.49 per barrel. U.S. crude futures climbed 1.16% to $73.23 per barrel.

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