Hang Seng Index Rallies on JD.Com Earnings: Asian Markets Track US Gains
Hang Seng Index Surges
The Hang Seng Index advanced by 1.54% on Friday, driven by strong earnings results from JD.Com, which surged 8.51% after beating earnings estimates. This upward movement reflects a broader trend in Asian markets responding positively to yesterday's gains in the US.
Positive Economic Indicators
US economic data has calmed fears of a hard landing, with retail sales increasing by 1.0% month-on-month in July and jobless claims falling to 227,000. These developments support the notion of a recovering economy, bolstering investor confidence.
Impact on Asian Markets
- Hang Seng Mainland Properties Index (HSMPI) gained 0.29%.
- Hang Seng Tech (HSTECH) rallied 1.63%.
- Stock gains from Alibaba and Tencent were notable, rising 3.60% and 1.36%, respectively.
Nikkei and ASX also perform well
The Nikkei Index was up 2.92% as a weaker Yen drove demand for export stocks. Meanwhile, the ASX 200 Index gained 1.26%, tracing the positive sentiment from US markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.