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>>Asian markets rose, buoyed by positive sentiment surrounding global technology, with a strong rebound in China offsetting a weaker performance in Hong Kong due to HSBC-related news.

Asian markets rose, buoyed by positive sentiment surrounding global technology, with a strong rebound in China offsetting a weaker performance in Hong Kong due to HSBC-related news.

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4 days ago

Asian Market Performance

Asian stock markets generally rose on Thursday, driven by optimism surrounding artificial intelligence and gains on Wall Street. Japan's NKY rose significantly, while China's SHCOMP also saw gains following a "Super Golden Week" holiday. The Hong Kong market edged upward, influenced by China's new export controls on rare earth technology.

Economic and Policy Developments

Japan's yen remains weak amid shifting political dynamics and soft economic data, diminishing prospects of Bank of Japan rate hikes. China tightened restrictions on rare earth exports and implemented a reverse repo operation to maintain liquidity. Australia’s services sector continues to expand despite slowing inflation, while New Zealand's dollar recovered following an unexpected rate cut.

Global and Corporate News

The U.S. government expanded sanctions targeting firms supporting Iran's military, impacting entities in China, Turkey, and the UAE. HSBC proposed privatizing Hang Seng Bank in a substantial deal, causing significant shifts in share prices for both companies. India's market saw gains, supported by the pharmaceutical and healthcare sectors, after tariff clarifications.