Asia-Pacific markets saw broad gains on Wednesday, driven by a surge in tech stocks which bolstered Hong Kong equities following Wall Street’s record close.
Hong Kong’s benchmark Hang Seng Index rose by 1.6%, with the tech sub-index posting a 1.3% gain. This was largely driven by a nearly 10% jump in Chinese video-sharing platform Bilibili’s shares, following its strong first-quarter results and improved profit margin outlook. Additionally, computer manufacturer Lenovo saw a 5% increase after the launch of a new ThinkPad model.
In contrast, Mainland China’s CSI 300 Index fell by 0.5%. Elsewhere in the region, South Korea’s Kospi gained 1%, and Japan’s Topix rose 0.7%. Meanwhile, Australia’s S&P/ASX 200 remained flat.
The upward momentum in Asia followed a strong performance in US markets, where stocks closed at a record high for the second consecutive day on Tuesday. US markets will be closed on Wednesday in observance of the Juneteenth holiday.
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