Hong Kong Stocks Rise As Tech Sector Bounces Back

Hong Kong stocks returned from a one-day public holiday with healthy gains on Thursday, brushing off a weak lead from Wall Street, with tech firms seeing a rebound.

The Hang Seng Index rose 0.6 percent, to 29,887 by the break.

The mainland markets were closed for a holiday.

Traders were in buying mood as most of the region returned from the May Day break looking to jump back into technology again after Apple surged 4.9 percent on better-than-expected quarterly results.

Hong Kong-listed AAC Technologies jumped almost 3 percent and market heavyweight Tencent added 0.4 percent while Apple supplier Foxconn and Taiwan Semiconductor were also well up in Taipei.

Other Asian markets also rose on Apple results, though energy companies dropped on concerns about slowing US oil demand as supplies climb.

Seoul and Taipei were each up 0.4 percent and Wellington rose 0.5 percent. Manila and Bangkok also climbed but Sydney slipped 0.7 percent and Singapore was off 0.5 percent. Tokyo market also was closed for a holiday. (AFP)

______________________________