HK, region mostly up as debt fears temper tech gains
Asian stocks mostly rose on Tuesday as a tech-led record on Wall Street was tempered by ongoing worries about a spike in government borrowing costs. In Hong Kong, the benchmark Hang Seng Index ended the day 240 points, or one percent, higher at 24,280 on turnover of HK$98.26 billion. The tech index was 39 points, or 0.9 percent, up at 4,223 while the China enterprises index advanced 77 points, or one percent, to 8,128. Oil held most of the losses seen in response to a G7 release of stockpiles, Saudi Arabia's price cut and a pick-up in Gulf exports to pre-war levels, though supply fears are keeping prices elevated. The US Nasdaq closed at a fresh peak thanks to rallies in tech giants including Nvidia, SpaceX and Meta, though observers pointed out that the market gains were increasingly concentrated on a few stocks. Asia struggled to match the positive energy on Wall Street in the morning but picked up as the day progressed. In Tokyo, the Nikkei ended up 737 points, or 1.05 percent, at 70,683 as a morning advance accelerated in the afternoon session after strong demand at a closely watched sale of 10-year Japanese government bonds allayed worries about the debt market. The broader...
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