Full-Scale Counterattack!
Today, A-shares and Hong Kong stocks opened higher across the board. The Hang Seng Tech Index surged nearly 4% at one point, while the ChiNext Index jumped 3.5%. Popular tech stocks broadly rose, with computing hardware and semiconductor chips leading the gains. The FTSE China A50 Index futures surged sharply, gaining over 1% at one point. Additionally, Japanese and South Korean stocks also strengthened collectively, with the Nikkei 225 surging nearly 3% to hit a record high. Analysts pointed out that easing trade tensions have boosted market sentiment.
Meanwhile, UBS Global Wealth Management, in its latest report, upgraded its rating on global stocks to "attractive," named technology its "global top industry," and raised its rating on Chinese tech stocks to "most attractive."
Full-Scale Counterattack
On October 20, after the A-share market opened, major indices rallied across the board. As of press time, the Shanghai Composite Index was up 0.6%, the Shenzhen Component Index rose 1.96%, and the ChiNext Index surged 3.52%. Gains were led by computing hardware, semiconductor chips, power grid equipment, and consumer electronics.
The Hong Kong Hang Seng Index opened sharply higher by 2.52%, with the Hang Seng Tech Index surging 3.9% at one point. Popular tech stocks broadly advanced. As of press time, NIO surged over 5%, while NetEase, Bilibili, and JD Health all gained over 4%. Alibaba, Baidu Group, and JD Group all rose over 3%, while Kuaishou, Tencent Holdings, and SMIC all gained over 2%.
The FTSE China A50 Index futures opened higher after rising 0.97% in the previous night session, gaining over 1% at one point. As of 9:50, the increase was 0.8%.
At the same time, Japanese and South Korean stocks also strengthened across the board. As of 9:50, the Nikkei 225 surged 2.7%, hitting a record high, while the KOSPI rose 0.73%.
Analysts believe the main reason for the collective counterattack in the Asia-Pacific markets on Monday is the reduced uncertainty in trade policy, which has alleviated market tensions.
