Asian stocks closed mostly higher on Tuesday (26), after Chinese e-commerce giant Alibaba revealed plans to seek a primary stock listing in Hong Kong.
The Hang Seng stock index rose 1.67% in Hong Kong to 20,905.88 points after Alibaba announced it intends to upgrade the status of its local stock listing from secondary to primary, making it more accessible to mainland investors. . With the news, Alibaba’s share jumped 4.82% in Hong Kong.
In Chinese markets, the Shanghai Composite rose 0.83% to 3,277.44 points, and the less comprehensive Shenzhen Composite gained 1.01% to 2,187.23 points.
Elsewhere in Asia, South Korea’s Kospi rose 0.39% in Seoul to 2,412.96 points after South Korea’s GDP surpassed growth expectations, but Japan’s Nikkei dropped a modest 0.16% in Tokyo, at 27,655.21 points, pressured by stocks linked to shipping and video games, and Taiex fell 0.87% in Taiwan, to 14,806.78 points.
Asian investors are also looking forward to the monetary policy meeting of the Federal Reserve (Fed, the US central bank), which starts this Tuesday and will conclude on Wednesday (27).
The Fed is expected to raise interest rates by another 75 basis points to combat soaring US inflation.
In Oceania, the Australian stock exchange was in the black today, thanks to shares in iron ore producers and oil companies. The S&P/ASX 200 gained 0.26% in Sydney at 6,807.30 points.
With information from Dow Jones Newswires
Source: CNN Brasil
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