Global Market News

Tech Sector, Global Growth Outlooks Churn Asian Stock Markets


Last updated: 02/23/2024 05:41:46

05:41 AM EST, 02/23/2024 (MT Newswires) -- Asian stock markets were choppy on Friday as traders weighed recent global tech-equity rallies against the sluggish global economy and geopolitical tensions.

Hong Kong edged lower, Shanghai gained, and Tokyo was closed on holiday. Other regional exchanges were also uneven.

In Hong Kong, the Hang Seng Index opened evenly, drifted, and edged lower by 0.1% at the close, as strength in property issues was offset by slipping tech shares.

The broad gauge Hang Seng fell 17.09 to 16,725.86, as losing issues outnumbered gainers 47 to 32. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index rose 1.4%.

Leading the upside was property developer Longfor, gaining 4.7%, while Wharf Real Estate fell 3.4%

On the mainland, the Shanghai Composite rose 0.6% to 3,004.88.

On the other regional exchanges, the South Korean KOSPI rose 0.1%; the Taiwan TWSE inclined 0.7%; the Australian ASX 200 gained 0.4%; the Singapore Straits Times Index fell 1.2%, and the Thai Set declined 0.3%. In late trading in Mumbai, the Sensex was steady.
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