Asian markets surged; Hong Kong's Hang Seng index outperform

9 Feb 2022 , 11:50 AM

Asian market on Wednesday trading in the green with Hong Kong leading gains. The Hang Seng index climbed over 1.9% as Chinese tech stocks bounced back from their Tuesday losses.

South Korea’s Kospi advanced 0.73%, in Japan, the Nikkei 225 soared 1.06% while the Topix index climbed 0.97%, the Shanghai Composite up 0.4% and the Shenzhen Component rose 0.681%. Whereas, the S&P/ASX 200 in Australia gained 0.79% as bank stocks surged.

Meanwhile, US equities closed higher as investors took comfort in corporate quarterly reports and awaited data later this week on inflation. The S&P 500 gained 0.84% to 4,521.542, bolstered by gains in financials and materials sectors, while the Nasdaq Composite was up 1.28% at 14,194.46 attributable to dip-buying in large tech companies like Apple and Microsoft. The Dow Jones Industrial Average surged 371.65 points to 35,462.78.

The 10-year U.S. Treasury hit 1.95% while, US$ closes near 95.59, with oil prices seeing a sharp decline.