Tech stocks in Hong Kong surge in shortened trading day for multiple Asia-Pacific markets


SINGAPORE — Hong Kong stocks led gains among major Asia-Pacific markets on Friday, with Chinese tech stocks in the city soaring.

The Hang Seng index in Hong Kong jumped 1.66% in early trading. Shares of Chinese tech firms listed in the city saw massive gains, with Alibaba surging 7.83% and Meituan advancing 4.58% while Tencent rose 3.47%. The Hang Seng Tech index traded 3.7% higher.

Mainland Chinese stocks were also higher, with the Shanghai composite up 0.2% while the Shenzhen component climbed 0.18%.

Elsewhere, the S&P/ASX 200 in Australia slipped 0.47%. Singapore’s Straits Times index gained 0.32%.

MSCI’s broadest index of Asia-Pacific shares traded 0.58% higher.

Markets in Australia, Hong Kong and Singapore are set to close early on Friday for the final trading day of the year.

Elsewhere in Asia, markets in Japan and South Korea are already done with trading for the year and are closed on Friday.

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Overnight stateside, the Dow Jones Industrial Average snapped its 6-day winning streak as it fell 90.55 points to 36,398.08. The S&P 500 shed 0.3% to 4,778.73 while the Nasdaq Composite declined 0.16% to 15,741.56.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 95.972 following choppy trading this week that has seen go momentarily from above 96.2 to below 95.8.

The Japanese yen sat at 115.05 per dollar, weaker than levels below 114.6 seen against the greenback this week. The Australian dollar was at $0.7253, still above levels below $0.723 seen earlier in the week.

Oil prices were lower in the morning of Asia trading hours, with international benchmark Brent crude futures down 0.8% to $78.89 per barrel. U.S. crude futures shed 0.87% to $76.32 per barrel.

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