Asian markets surge led by Hang Seng Index and Sino Biopharmaceutical

  • Stock Market News
Asian markets surge led by Hang Seng Index and Sino Biopharmaceutical
Credit: © Reuters.

Asian stocks experienced a significant rise on Friday, with the Hang Seng Index in Hong Kong leading the charge. The index saw an increase of 2.5%, reaching a value of 17,664.12 for the second consecutive day. This uptick was accompanied by similar growth in other Asia-Pacific markets. The Shanghai Composite Index in China and Singapore's FTSE Straits Times Index rose by 0.7% and 2% respectively, closing at 3,030.80 and 3,143.07.

In addition to these gains, South Korea's KOSPI Composite Index and Australia's S&P/ASX 200 Benchmark Index both saw a 1.1% rise, settling at 2,368.34 and 6,978.20 respectively. In contrast, Japan's Tokyo Stock Exchange remained closed.

Among individual stocks, Sino Biopharmaceutical (HK: 1177 ), a constituent of the Hang Seng Index, recorded the largest surge with an 8.4% increase in shares. This was closely followed by Zhongsheng Group Holdings and Li Ning which saw their shares grow by 8.1% and 6.6% respectively.

Despite the overall positive trend, some companies experienced a decline in their share prices. China Hongqiao Group, WH Group (OTC: WHGLY ) and Zijin Mining Group saw their shares decrease by 1%, 0.6%, and 0.2% respectively.

The upward trend in Asian markets indicates a strong start to November trading sessions, with most indices showing considerable growth while some individual stocks outperforming others significantly.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or