Stock markets in Asia turned positive in the late morning session, led by Hong Kong’s Hang Seng Index with a gain of around 2% as investors were bracing for another big rate hike by the U.S. Federal Reserve.
The Asian markets opened Wednesday with a mixed sentiment, but made a push afterward. The Hang Seng Index turned from a decline of 0.74% to a gain of 2%. The Shanghai Composite rose 0.75% from the flat line in the early morning. Japan’s Nikkei and Korea’s Kospi maintained a positive level with a gain of 0.03% for both markets. Meanwhile, Australia’s ASX 200 increased 0.16%.
Hang Seng Index continued to lead the market in gain after closing more than 5% on Tuesday, supported by a rally in tech stocks amid a buyback from investors after the main index lost more than 14% in October. Hang Seng’s Tech Index was up 1.88%.
Thailand’s SET Index also made some recovery from a loss in the early morning to a slight gain by 0.04%.
