Benchmark Hang Seng gained 1.85% or 311.10 points to close at 17,139.17, Chinese H-shares listed on Hong Kong rose 2.15% 6,021.79.
The rally were mainly seen on tech related stocks, bargain buying and bets on big US data moved Asian stocks on the positive direction mostly unfazed by ratings agency Fitch downgrading economic outlook on China.
Fitch affirmed China’s sovereign rating at ‘A+’ even though the outlook was downgraded to negative and it forecast economic growth this year would slow.
Several property developers reported weakening sales in March, suggesting continued pressure for the sector and pulling property stocks down. Investors are also awaiting for a string of key economic data due this week and the next week to gauge policy paths.
The blue-chip CSI 300 index was down 0.81% while the Shanghai Composite Index lost 0.70%, or 21.20 points, to end at 3,027.34. The Shenzhen Composite Index on China’s second exchange dropped 1.74%, or 30.52 points, to 1,720.28.
Markets in Malaysia, Indonesia were closed to observe EID celebration.
