Stock Groups

Hong Kong’s Hang Seng index soars almost 2% in mixed Asia-Pacific trade

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SINGAPORE — Shares in Asia-Pacific were mixed in Friday trade, following heavy losses overnight on Wall StreetThe tech-heavy Nasdaq Composite plunged nearly 4%.

Hong Kong Hang Seng indexLed gains among major regional markets. The index was up 2.25% by early trade and then lost some. Last year, the benchmark index in the city was 1.8% higher.

After being closed most of the week for Lunar New Year holiday, markets in Hong Kong reopened on Friday. For the holiday season, mainland China markets will remain closed.

South Korea Kospi jumped 0.71%.

And elsewhere, Nikkei 225Japan’s Topix index fell 0.41%, while Japan’s slipped by 0.41%. There are S&P/ASX 200 in Australia declined 0.41%.

MSCI’s Asia-Pacific share index outside Japan was 0.4% higher.

Wall Street drops

The major averages fell overnight stateside, with the tech-heavy Nasdaq Composite plummeting 3.74% to 13,878.82 — its worst day since September 2020.

The S&P 500 also saw significant losses, declining 2.44% to 4,477.44 while the Dow Jones Industrial Average slipped 518.17 points, or 1.45%, to 35,111.16.

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U.S. stock futures later pointed to a reversalSome of these losses were due to the strong quarterly results of tech companies Snap and Amazon. Dow futures rose by about 100 points. S&P 500 futures gained 0.89% while Nasdaq 100 futures jumped 1.63%.

Oil and Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.242 — having declined from above 96.6 earlier in the week.

The Japanese yenThe dollar traded at 114.83 dollars, which is lower than the levels of 114.5 yesterday. The Australian dollarThe stock was trading at $0.7133. This is largely because it held on to its gains following its climb from $0.702 lower in the trading session.

Petroleum prices rose in the early hours of Asia trade, but were lower compared to international benchmark prices Brent crude futuresThe price of a barrel rose 0.45% to $91.52 U.S. crude futuresThe barrel price increased by 0.56% to $90.78

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