SINGAPORE – Asia-Pacific shares traded higher on Friday after overnight gains abroad, where the S&P 500 reached a record high.
Shares in China’s Kuaishou Technology skyrocketed in their Hong Kong debut, rising nearly 200% from their $ 115 Hong Kong issue price (about $ 14.83) per share. The stock later increased its initial profits, but in the morning trade it was still more than 170%.
Meanwhile, the Hong Kong benchmark Hang Seng index rose 0.81%. Chinese shares on the continent also rose: the Shanghai composition rose 0.36%, while the Shenzhen component rose 0.159%.
In Japan, the Nikkei 225 rose 1.04% while the Topix index rose 0.92%. South Korea’s Kospi rose 0.21%.
Shares in Australia rose as the S & P / ASX 200 rose 0.84%.
MSCI’s broadest index of Asia-Pacific stocks outside Japan traded 0.37% higher.
Overnight on Wall Street, the S&P 500 rose 1.1% to a record high of 3,871.74. The Dow Jones industrial average rose 332.26 points to close at 31,055.86, while the Nasdaq Composite rose 1.2 percent to 13,777.74, also reaching a new high.
Currencies
The US dollar index, which follows the rate behind a basket of its peers, was at 91,503 after rising earlier from below 91.2.
The Japanese yen traded at 105.50 per dollar after weakening from 105.2 against the greenback yesterday. The Australian dollar changed hands from $ 0.7594 after slipping from above $ 0.764 yesterday.
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