Strong Gains on Hong Kong Stock Exchange, Nikkei Closed

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The Hong Kong stock market rose sharply on Thursday. Profits were also made on the other stock exchanges in the Asian region. Investors brushed aside concerns about the rapid advance of the Delta variant of the coronavirus and took advantage of the positive mood on Wall Street.

 

The interest rate decision of the European Central Bank, which will be announced later in the day, was also looked forward to. However, trading was also relatively calm as major financial markets in Tokyo remained closed.

The Hang Seng index in Hong Kong was up 1.8 percent in the meantime. China Evergrande Group added 8 percent. The debt-plagued Chinese property developer has resolved its legal disputes with the lender China Guangfa Bank, according to Reuters news agency. The main index in Shanghai made an interim gain of 0.3 percent, and the Kospi in Seoul gained 1 percent.

South Korean carmaker Hyundai, which saw profits rise thanks to the sale of luxury cars, climbed 0.4 percent.

The All Ordinaries in Sydney rose 1 percent. BHP won 3 percent. The British-Australian miner has signed a deal with Tesla to supply nickel to the American electric car maker. Financial details of the agreement were not given. Nickel is an important raw material for the production of batteries for electric vehicles.

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