Thu, 29 Jul 2021

Hong Kong's stock market shines amidst regional rally

Lola Evans
22 Jul 2021, 18:25 GMT+10

SYDNEY, NSW, Australia - Stocks in Hong Kong rose sharply on Thursday amidst a global rush for equities.

Wall Street, Europe, and the UK all recorded strong gains over the previous two days, and Asia has been taken along for the ride.

On Thursday the Nikkei 225 in Tokyo jumped 159.84 points or 0.58 percent to 27,548.00.

The Australian All Ordinaries climbed 78.00 points or 1.03 percent to 7,.658.90.

China's Shanghai Composite added 12.07 points or 0.34 percent to 3,574.73.

But it was in Hong Kong where the real action was. At the close of trading Thursday the Hang Seng was ahead by 476.17 points or 1.75 percent at 27,700.75.

The U.S. dollar was little changed from levels recorded overnight. The euro was stuck at 1.1800. The British pound moved higher to 1.3754, by the Sydney close Thursday. The Japanese yen was unchanged at 110.24. The Swiss franc to little moved at 0.9165.

The Canadian dollar retained its strength at 1.2564. The Australian and New Zealand dollars help on to the overnight gains, but failed to add to them.

Overnight on Wall Street, the Nasdaq Composite gained 133.08 points or 0.92 percent to 14,631.95.

The Dow Jones industrials racked up 286.01 points or 0.83 percent to 34,798.00.

The Standard and Poor's 500 advanced 35.63 points or 0.82 percent to 4,358.69.

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