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Hong Kong’s Hang Seng index leads gains as Asia-Pacific stocks rise


SINGAPORE — Shares in Asia-Pacific were largely higher in Tuesday morning trade, with Hong Kong stocks leading gains regionally.

It Hang Seng indexMorning trade saw a surge of 1.72% as Chinese technology stocks rose. TencentWhile the rise was 3.26% AlibabaIt jumped 4.79% MeituanGained 3.18% Hang Seng Tech was 3.42% lower.

Stocks from China were mixed with those of the Shanghai CompositeThe cost of the cheapest option is 0.133%, Shenzhen ComponentIt rose only fractionally

It Nikkei 225Japan’s stock market grew by 0.44%, with the Topix index trading 0.32% higher.

South Korea KospiThe climbed by 0.85% during the S&P/ASX 200Australia’s growth was 0.4%

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MSCI’s Asia-Pacific broadest index, which is not based on Japan, traded at 1.11% above its previous record.

Minutes of the RBA meeting released

It Reserve Bank of AustraliaTo ensure inflation “returns over time to its target,” the central bank could increase interest rates. Minutes from Tuesday’s central bank meeting in May were available. The country had announced its first rate hike in more than a decade.

According to minutes, “Inflation is now higher than the target” and it was not expected to drop back to target until the mid-to-late 2020s. While the rise in inflation has been caused largely by global factors that were more likely to cause a temporary increase, data on wages and inflation over the previous month was consistent with persistent inflationary pressures due to limited spare capacity in domestic economies.

Overnight stateside, the S&P 500 shed 0.39% to 4,008.01 while the tech-heavy Nasdaq Composite dropped 1.2% to 11,662.79. Dow Jones Industrial Average gained 26.76 point, or 0.08% to 32,223.42.

Currencies, oil

It U.S. dollar index, which tracks the greenback against a basket of its peers, was at 104.171 — off levels above 104.5 seen recently.

It Japanese yenThe dollar traded at 129.24 dollars, which is stronger than the 130 levels seen last week. The Australian dollarFollowing a rebound from $0.693, the price was $0.6992.

The morning Asia trading hour saw oil prices rise, with benchmarks internationally. Brent crude futuresBarrel price increased by 0.37%, to $114.66 U.S. crude futuresBarrel price increased by 0.3% to $114.46