Hang Seng Index shows relief bump over ceasefire
Hang Seng Index shows relief bump over ceasefire
The Hang Seng Index ended the day up 487.94 points, or 2.06 percent, at 24,177.07. File photo: RTHK
Mainland Chinese and Hong Kong stocks rose on Tuesday, joining a broader rally across Asia, as global risk appetite improved following US President Donald Trump's announcement of a ceasefire between Israel and Iran.
In Hong Kong, the benchmark Hang Seng Index ended the day with solid gains of 487.94 points, or 2.06 percent, at 24,177.07, the biggest single-day gain in over five weeks.
Tech firms and car makers led gains in Hong Kong, with the Hang Seng Automobile Index adding over 3 percent and the Hang Seng Tech Index climbing 2.1 percent.
On the mainland, the benchmark Shanghai Composite Index ended up 1.15 percent at 3,420.57 while the Shenzhen Component Index closed 1.68 percent higher at 10,217.63.
Combined turnover at these two indices stood at 1.41 trillion yuan, up from 1.12 trillion yuan on the previous trading day.
Shares in the solid-state battery, robotics and gaming sectors led gains while those related to oil and gas, shipping and precious metals were among the biggest losers.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 2.3 percent to close at 2,064.13.
Markets reacted positively to the news that Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day war that saw millions flee Tehran and prompted fears of further escalation in the war-torn region.
Risk sentiment in China markets probably won't get much worse from here, and further dips on Middle East tensions might signal a new round of buying opportunities, analysts at Bank of China (International) Securities said in a note.
In Tokyo, the benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 38,790.56, up 436.47 points, or 1.14 percent, from the previous trading day as investor sentiment was lifted after news that Israel and Iran had agreed to a ceasefire, easing geopolitical concerns.
The broader Topix index also rebounded, rising 20.17 points, or 0.73 percent, to 2,781.35. (Reuters/Xinhua)
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