Hang Seng Index jumps through 23,000 points in early trading on Friday
Hong Kong stocks rallied in early Friday trading, with the Hang Seng Index rising 294 points to 23,253, up 1.3 per cent. The Hang Seng Tech Index gained 1 per cent to about 3,783 points. Meanwhile, the yen weakened ahead of the Bank of Japan's expected decision to hold rates at 1.25 per cent.
Hong Kong stocks rallied in early morning trading on Friday, with the benchmark Hang Seng Index jumping 294 points, or 1.3 per cent, to 23,253 points, according to The Standard. The Hang Seng Tech Index also rose, gaining 1 per cent to approximately 3,783 points.
Meanwhile, the yen was steady on Friday ahead of the Bank of Japan's (BOJ) policy decision, while the dollar tracked Treasury yields lower, as a fresh wave of selling in AI shares triggered a flight to safety, Reuters reported.
The BOJ is set to keep interest rates on hold at 1.25 per cent in a widely anticipated move, despite elevated inflation pressures. A hawkish tone is expected from the central bank, with markets pricing in about an 80 per cent chance of a rate hike in December.
The yen weakened slightly on the day to around 157.815 yen per dollar and was on track for a 0.2 per cent decline against the greenback this month.