Hong Kong's Hang Seng rises nearly 3%; Alibaba shares soar after earnings report

Hong Kong's Hang Seng rises nearly 3%; Alibaba shares soar after earnings report

May 27, 2022 by CNBC

Key Facts

  • SINGAPORE — Shares in Asia-Pacific largely rose on Friday, with investors monitoring shares of Alibaba in Hong Kong after the Chinese tech giant posted better-than-expected fourth-quarter earnings on Thursday.
  • Chinese authorities held an unprecedented nationwide meeting via teleconference on Wednesday in a bid to bolster an economy battered by Covid, with Premier Li Keqiang warning of difficulties "even greater than the severe shock of the pandemic in 2020."
  • MSCI's broadest index of Asia-Pacific shares outside Japan jumped 2.05%. CURRENCIES AND OIL The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.733 — off levels above 102.2 seen earlier in the week.
  • Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures rising 0.23% to $117.67 per barrel.

Click To Read Full Article

PERCENT
MONEY
PERSON
GEOGRAPHY
CURRENCY
LOCATION
GROUP
ORGANIZATION
PRODUCT
MISCELLANEOUS

This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2021 Kwhen Inc.

Was this content valuable for you?