Asian Stocks Close Friday With Gains

20.05.2022 13:57

Hong Kong stock exchange best performer of day, surging 2.96%

Asian stock markets closed with gains on Friday as China's rate cut bolstered investors' sentiment.

The Asia Dow, which includes blue-chip companies in the region, was up 54.3 points, or 1.65%, to 3,352 points.

Tokyo's Nikkei 225 stock exchange increased 336.2 points, or 1.27%, to 26,739.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, was the best performer of the day, surging 596.6 points, or 2.96%, to 20,717.

China's Shanghai stock exchange increased 49.6 points, or 1.60%, to finish at 3,146.6.

India's Sensex benchmark gained 1,528.8 points, or 2.90%, to 54,321, while the Singapore index rose 49.9 points, or 156%, to 3,240.

China on Friday cut a key interest rate for long-term loans for the second time this year as part of a push to overcome the impact of stringent COVID-19 lockdowns and a downturn in the property sector.

The five-year loan prime rate, a reference for mortgages, was lowered 15 basis points to 4.45% from 4.6%, the People's Bank of China said in a statement. -

In order to provide you with a better service, we position cookies on our site. Your personal data is collected and processed within the scope of KVKK and GDPR. For detailed information, you can review our Data Policy / Disclosure Text. By using our site, you agree to our use of cookies.', '