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Baystreet.ca-Most of the Asia Pacific region is high

Shares in the Asia-Pacific region rose most Thursday, with shares in China’s tech giant Alibaba in the limelight, following reports that Chinese regulators are investigating the company for alleged monopoly behavior.

In Japan, the Nikkei 225 rose 143.56 points (0.5%) to 26,668,35.

The Japanese yen traded at 103.57 per dollar, below the level below 103.2 against the dollar seen last week.

In Hong Kong, the Hang Seng Index rose 43.46 points (0.2%) to 26,386.56. Alibaba shares in Hong Kong fell 8.1% on Thursday.

Markets in Australia, Hong Kong and Singapore closed early due to Christmas Eve.

The Australian dollar traded at $ 0.7587 from a low below $ 0.75 seen at the beginning of the trading week.

China

In Shanghai, the CSI 300 fell 7.1 points (0.1%) to 5,000.02.

China’s State Administration of Market Regulation said it has launched Alibaba’s investigation into monopoly practices through an official online channel. The news was first reported by Bloomberg and published by China’s national news agency Xinhua.

Chinese officials also said they would meet with Alibaba-affiliated Ant on Thursday to oversee financial technology companies on issues such as market-oriented operations.

These developments were driven by Chinese authorities to curb the largest technology companies through regulatory measures, and almost immediately after an unexpected increase.

In other markets

In South Korea, the Kospi index rose 47.04 points (1.7%) to 2,842.04.

In Taiwan, the Taiwan Capitalization Weighted Index was added to 14,280.28 by 57.19 points, or 0.4%.

In Singapore, the Straits Times Index rose 8.64 points (0.3%) to 2,842.04.

In New Zealand, the NZX 50 rose 17.74 points (0.1%) to 13,037.94.

In Australia, the ASX 200 was 21.64 points (0.3%), or 6,664.77.

Baystreet.ca-Most of the Asia Pacific region is high

http://www.baystreet.ca/articles/foreignmarketwrap.aspx?id=3572 Baystreet.ca-Most of the Asia Pacific region is high

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