Hong Kong-Listed Shares of Alibaba Jumped on Tuesday
On Tuesday, shares in Asia-Pacific strengthened their positions, with tech stocks in the region jumping following similar gains overnight for their counterparts on Wall Street.
The mainland Chinese stocks rose on Tuesday. The Shanghai Composite added 0.7% to end its trading day at 3,593.15. The Shenzhen component gained more than 1% to close at 14,499.77.
In Hong Kong, the Hang Seng index advanced 1.43% in the final hour of trade.
In Japan, the Nikkei 225 added 0.65% to finish its trading day at 29,215.52. The Topix index gained 0.36% to 2,026.57.
South Korea’s Kospi added 0.74% to 3,029.04.
In Australia, the S&P/ASX 200 closed near the flatline at 7,374.90. Minutes from the country’s central bank’s October monetary policy meeting showed the Reserve Bank of Australia expects the Australian economy to return to growth in the December quarter and to its pre-Delta path in the second half of the next year.
Shares of Alibaba and other companies
Tech stocks saw gains on the day. The Hang Seng Tech index in Hong Kong gained more than 3%. Shares of Alibaba and Meituan listed in Hong Kong jumped 1.3% and 1.8% respectively.
Softbank Group’s stock rose 3.06%, while shares of South Korean chipmaker HK Hynix advanced 0.62%.
Investors also closely monitored shares of Apple suppliers in Asia after the company announced new products on Monday.
The Cupertino-based company announced new MacBook Pro laptops using its M1 Pro and M1 Max chips. New laptops have an HDMI port to connect to displays and TVs, an SD card slot for photographers. The price of the 14-inch MacBook Pro starts at $1,999, while the 16-inch model starts at $2,499.
The company presented its third-generation AirPods with a new design. Apple’s newest earphones will support spatial audio, thanks to new sensors that support features spatial audio. Its newest earphones have more powerful bass than previous models. It also announced a new HomePod Mini speaker. Apple will offer new colors to HomePod Mini buyers.
In Japan, shares of Apple suppliers fell on Tuesday. Shares of Taiyo fell around 2% while Murata Manufacturing dropped 0.74%.
Shares of Taiwan Semiconductor Manufacturing Company (TSMC) added 1.69%. Luxshare’s stock in mainland China jumped 6.32%.