SINGAPORE – Shares in Asia-Pacific rose massively on Friday, with investors monitoring stocks Ali Baba in Hong Kong after the Chinese tech giant posted better-than-expected fourth-quarter earnings on Thursday.
shares of Ali Baba The city-listed rose 12.21% after reporting fourth-quarter earnings of 7.95 yuan ($1.18) per share, excluding items, on revenue of 204.05 billion yuan ($30.28 billion).
This exceeded analyst expectations for earnings of 7.31 yuan per share on CNY199.25 billion in revenue, according to StreetAccount.
Other Chinese tech stocks in the city also gained significantly, including Tencent while growing by 2.27% netizens up 4.43%. Comprehensive Hang Seng Index Hong Kong climbed 2.89% to close at 20,697.36.
Mainland sugar stocks were mixed, with Shanghai Composite 0.23% to 3,130.24 while Shenzhen Components fell 0.118% to 11,193.59.
Chinese officials a Unprecedented nationwide meeting via teleconference on Wednesday In a bid to strengthen the economy battered by Covid, Premier Li Keqiang warned of difficulties “even more than the severe shock of the pandemic in 2020”.
“Premier Lee’s Directions to Local [officials] To better balance COVID containment against economic growth, which has been cited as the key to solving all problems (from employment to livelihoods and COVID control), paves the way for a promising change ,” Vishnu Varthan of Mizuho Bank said in the Friday note.
“The trouble is, it’s an attempt at pain relief, but not a panacea for the damage done itself,” said Vishnu, head of economics and strategy at the firm.
Nikkei 225 Shares in Japan rose 0.66% as group closed at 26,781.68 softbank group increased by 3.43%. The Topix index rose 0.52% to 1,887.30. of south korea kospi The trading day also closed up 0.98% at 2,638.05.
in Australia, S&P/ASX 200 climbed 1.08% on the day to reach 7,182.70. Australia’s retail sales rose 0.9% in April to “another record level”, according to a Friday media release from the country’s Bureau of Statistics.
After the data is released, Australian Dollar Changed hands at $0.7144, continuing to stay above the $0.705 level which turned lower in the first moment of the week.
MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 2.05%.
currencies and oil
US Dollar IndexThe greenback, who tracks against a basket of his peers, was at 101.733 – levels above the 102.2 seen earlier in the week.
Japanese yen 127.05 per dollar, still strong from the level above 127.8 seen against the greenback earlier this week.
Oil prices were higher in the afternoon of Asia trading hours, in line with international benchmarks brent crude futures rose 0.23% to $117.67 a barrel. US crude futures climbed 0.1% to $114.20 a barrel.
— CNBC’s Samantha Subin contributed to this report.