- Stocks in Asia rose across the board on Thursday after China said it will continue to allow Chinese IPOs in the U.S.
- A series of regulatory measures in the last few weeks has dampened investors’ appetite for shares in Chinese companies.
- On Thursday the embattled Hong Kong market led a spirited advance across the Asian region.
SYDNEY, NSW, Australia – Stocks in Asia rose across the board on Thursday after China said it will continue to allow Chinese IPOs in the U.S. as long as they meet listing requirements.
A series of regulatory measures in the last few weeks, in the technology sector in particular, has dampened investors’ appetite for shares in Chinese companies, causing indices in Hong Kong and the Chinese mainland to tumble.
On Thursday the embattled Hong Kong market led a spirited advance across the Asian region. The benchmark Hang Seng index soared 808.56 points or 3.17 percent to 26,282.44.
China’s Shanghai Composite advanced 50.70 points or 1.49 percent to 3,411.72.
In Japan, the Nikkei 225 rose 57.80 points or 0.87 percent to 6,667.11.
The Australian All Ordinaries climbed 45.60 points or 0.60 percent to 7,695.20.
The U.S. dollar was unwanted during the Asian zone, following the Federal Reserve’s decision a day earlier to leave official interest rates unchanged.
The euro rose strongly to 1.1867. The British pound was in demand at 1.3944. The Japanese yen was little changed at 109.85. The Swiss franc advanced to 0.9086.
The Canadian dollar strengthened to 1.2471. The Australian dollar gained to 0.7390. The New Zealand dollar was a fraction higher at 0.6981.
Overnight on Wall Street, the tech-laden Nasdaq Composite added 102.01 points or 0.70 percent to 14,762.58.
The Dow Jones industrials shed 127.72 points or 0.36 [percent to 34,930.80.
The Standard and Poor’s 500 slipped 0.80 of a point or 0.02 percent to 4,400.66.
