The Hang Seng Index tops 30,000 as Asian Markets Rise

Asian markets were higher this morning following Wall Street’s record close overnight. We are seeing tech plays rally which has supported the broader markets. Shares on Hong Kong’s Hang Seng market have topped 30,000.

Australia’s S&P ASX 200 rose 0.37 percent. Most sub sectors were higher today. The energy sub index was up 1.24 percent and the materials sub index gained 0.79 percent. The heavily-weighted financial sub index was up as three of the country’s Big Four banks fell this morning.

Shares of ANZ Bank lost 0.32 percent, Westpac fell by 0.34 percent and the National Australia Bank was down 0.23 percent. Commonwealth Bank shares, bucked the trend this morning, rising 0.41 percent.

Japan’s benchmark, the Nikkei 225 rose 0.84 percent in morning trade. The Topix rose 0.56 percent. In South Korea, the Kospi Composite index gained 0.23 percent.

In other Asian markets, the Chinese markets opened higher today. The Shanghai composite rose 0.45 percent in the morning. The Shenzhen composite rose fractionally to trade near 1,987.53.

Hong Kong’s Hang Seng index broke through the 30,000 level. This index was up 1.01 percent to 30,118.19.

Asian Investors Watch the Headlines

Asian financial markets have remained mostly range bound ahead of Thanksgiving holiday. Even though there was a small fall in the U.S. dollar on a broad basis, markets stayed within range until today.

In the Forex markets this morning, the U.S. dollar index retreated. The almighty buck fell against a basket of currencies in the early hours of Asia time. As of 9:30 am Hong Time, the U.S. dollar index was at 93.928. This was down from a previous high of 94.16.

Among other currency pairs, the Japanese yen was at 112.28 to the dollar. This was a bit stronger than 112.60 it was near on Tuesday.