Hong Kong’s Hang Seng edges out of bear territory; oil prices surge

img ]

SINGAPORE — Stocks in Asia-Pacific rose on Monday trade as Hong Kong’s Hang Seng index bounced back after slipping into a bear market last week.

The Hang Seng index rose 1.05% to close at 25,109.59, as shares of Chinese tech giant Tencent rose nearly 2% while Hong Kong Exchanges and Clearing surged 5.66%.

Monday’s gains for the Hang Seng came after heavy losses last week, with the index falling more than 20% below its mid-February high. Regulatory uncertainty in China has clouded the outlook for Chinese technology companies.

Mainland Chinese stocks also rose on the day, with the Shanghai composite up 1.45% to 3,477.13 while the Shenzhen component gained 1.981% to 14,535.88.

The Nikkei 225 in Japan rose 1.78% to close at 27,494.24 while the Topix index jumped 1.83% to end the trading day at 1,915.14.

South Korea’s Kospi closed 0.97% higher at 3,090.21. Shares of LG Chem, however, plunged 11.14% after General Motors said Friday it was expanding its recall of Chevrolet Bolt EVs. The automaker said it found manufacturing defects in certain battery cells produced at LG manufacturing facilities.

Hang Seng Index compiler says it will be tough to meet target of 80 constituent stocks by next year

img ]

Hang Seng Indexes has a tough job on its hands expanding the benchmark to 80 stocks by middle of next year, executive says. Photo: SCMP/Sam Tsang

European markets edge higher; Hang Seng index ends with gain

img ]

“Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day.” - Issued in the interest of investors." | “KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” | “No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account.”

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.