Hang Seng jumps over 3% to fresh 52-week high; Nikkei trades lower amid mixed cues

Hang Seng rises, Nikkei trades lower amid mixed cues; Wall Street extend its losses

Asian equity markets saw mixed trends on Wednesday, with Hong Kong's Hang Seng leading the gains, while Japan’s Nikkei 225 edged lower. Investors remained cautious following Wall Street’s extended losses, driven by concerns over inflation and potential tariff adjustments.

The Hang Seng index surged over 3 percent to 23,761.35 by 11:40 AM (local time), bolstered by strong buying in technology stocks. Later in the day, it surged to fresh 52-week high hitting 23,973.17 intraday.

The Shanghai Composite also advanced, rising 0.76 percent to 3,371.46 as investors responded positively to signals of policy support from Beijing.

E-commerce giant Alibaba soared nearly 6 percent intraday, while technology major Tencent Holdings gained 4 percent. Baidu, a key player in AI and search engine technology, also added 4 percent. The rally came after Chinese President Xi Jinping’s recent meeting with entrepreneurs, where he reaffirmed the government’s commitment to supporting private businesses.

In contrast, Japan’s Nikkei 225 declined 0.34 percent to 38,109.02, reflecting weak sentiment amid global uncertainties. However, South Korea’s Kospi index bucked the trend, climbing 0.63 percent to 2,644.63.

Meanwhile, Indian stock exchanges remained closed on account of Mahashivratri. There was no trading on the BSE and NSE for the day across equity, derivatives and debt segments. In the commodity derivatives market, morning session trading (9 AM - 5 PM) remained closed, with activity set to resume in the evening session from 5 PM to 11:30/11:55 PM.

On Wall Street, key indices extended losses overnight as investors grappled with inflation concerns and the impact of trade policies.

The S&P 500 declined 0.5 percent to 5,955.25 after slipping as much as 1.2 percent earlier in the session. The Nasdaq Composite dropped 1.4 percent to 19,026.39, while the Dow Jones Industrial Average gained 0.4 percent to close at 43,621.16. Among major stocks, Nvidia lost 2.8%, and Tesla plunged 8.4%.

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