Technology stocks rebound in Asia-Pacific stock markets
04:52, 25 November 2021
Technology stocks bounced back in major Asia-Pacific markets on Thursday following sharp declines in previous sessions.
Hong Kong’s Hang Seng TECH index rose 0.7% to 6,332.33 by Thursday lunch. Australia’s S&P/ASX All Technology index gained 1.4% to 3,142.80 by the afternoon session.
Asahi Kasei surges on hydrogen project reports
Japan-based chemicals producer Asahi Kasei was the second biggest gainer in Tokyo, up 4%, on reports that the company expects to put up one of the world’s largest hydrogen production systems by 2025.
In Hong Kong, the benchmark Hang Seng index inched 0.1% higher to 24,714.83 by lunch break on Thursday.
Property developer Kaisa Group’s stock surged over 18% to HKD1.2 after the company resumed trading following a near three-week-long trading halt.
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Aussie shares trade flat
Kaisa Group has offered existing bondholders to exchange their bonds for new notes with an extended maturity and terms.
In Australia, the benchmark S&P/ASX 200 index was close to flat by late afternoon trade on Thursday, as technology and mining gains were offset by energy and financial losses.
Aussie fintech firm EML Payments surged over 30% to AUD3.59 after the Central Bank of Ireland permitted the company’s Irish unit to sign new customers.