Stocks rise

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South Korea shares led gains in Asia as the technology sector tracked a rally in US semiconductor stocks and investors nurtured hopes that China was scaling back regulatory clampdowns.

Seoul equities climbed 1.5 percent in their best session since Nov. 2, but ended the week flat. Taiwan’s tech-heavy stock bourse advanced as much as 0.9 percent, while Indian shares added 0.9 percent

Didi Global will relaunch its apps in China by the end of 2021 in anticipation that Beijing’s probe into the firm will be wrapped up by then, Reuters reported.

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There were also signs that the government could ease some tight curbs in the property sector, which had initially boosted Shanghai equities by 0.3 percent.

“Some easing in regulatory concerns are helping to boost Chinese stocks, which in turn is helping to underpin regional markets,” said Mitul Kotecha, chief EM Asia & Europe strategist at TD Securities.

Additionally, a 1.9 percent rise overnight in the Philadelphia SE Semiconductor index after a heavy sell-off in the previous session boosted tech stocks in South Korea and Taiwan, according to Kelvin Wong, an analyst at CMC markets.

In Malaysia, the benchmark stock index gained 0.7 percent, even as data showed the economy shrunk more than expected in the third quarter. However, the index was set for a fourth straight week of losses.

“The economy seems to have turned a corner of-late with improvement in the virus situation and vaccination coverage… there has been substantial re-opening and a recovery is falling in place,” ANZ Research said in a note.

On the downside, Singapore shares edged lower, with transport firm Comfortdelgro being the top loser for a second day in a row after it halted plans for an initial public offering of its Australian unit.

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