Hong Kong Market Reverses Course In Asian Rally

Hong Kong stocks soared more than 1 percent on Tuesday morning, in line with gains across most Asian markets with technology firms lifted by bargain-buying.

The Hang Seng Index, which had ended in the red on Monday, rose 1.1 percent, to 30,578 by the break.

On the mainland, the benchmark Shanghai Composite Index jumped 1.8 percent, to 3,123 while the Shenzhen Composite Index gained 1.9 percent, to 1,797.

The weaker yen boosted Japanese exporters, which helped the Nikkei to end the morning 0.7 percent higher.

Sydney put on 0.4 percent.

The greenback rallied on the back of the higher yields, sitting at two-month highs against the yen and seven-week highs against the euro. It was also up against most other high-yielding units, including the Australian dollar, South Korean won, Mexican peso and South African rand. (AFP)

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