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Asian Stock Markets Edge Higher; Tokyo Closed on Holiday

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Last updated: 02/23/2021 05:21:34

05:21 AM EST, 02/23/2021 (MT Newswires) -- Asian stock markets edged higher Tuesday, despite overnight signals from Wall Street and the 2.5% drop on the Nasdaq, as market denizens migrated from tech issues into consumer, bank, property and gaming stocks. Hong Kong pushed ahead, while Bangkok's SET index led regional gainers, rising 1.5%. Tokyo was closed on holiday, and Shanghai declined modestly.

The Hong Kong Hang Seng Index opened lower on New York signals but rose in trading, finishing up 1.0%. The Macau casinos, Galaxy Entertainment and Sands China pushed the index higher after authorities ended quarantine requirements on mainland tourists, and on reports that gaming revenue was strong during the Lunar New Year.

The broad gauge Hang Seng rose 312.81 to 30,632.64, as gaining issues outnumbered losers 33 to 18.

The Hang Seng TECH Index fell back 1.1%, extending Monday's decline.

On the mainland, the Shanghai Composite fell 0.2% to 3,636.36.

In economic news, house prices in China rose in January. Prices of second-hand housing China's major cities, also called "first tier" cities, especially appreciated, rising 9.6% in January, year-over-year. The average sales price of newly built housing in first-tier cities rose by 4.2% year-over-year, reported the National Bureau of Statistics.

On the other exchanges, the S. Korean Kospi fell 0.3%; the Taiwan TWSE inclined 0.2%; the Australian ASX 200 inclined 0.9%; the Singapore Straits Times Index rose 0.3%. In late trading in Mumbai, the Sensex was steady.

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