Rally in Hong Kong’s Tech Stocks Turn Asian Markets Positive as SET Index Makes Slight Recovery

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%.