On Friday, Asia-Pacific stocks mostly edged up as technology shares rose, led by the surge of JD.com following the Singles’ Day shopping event.
Accordingly, the Hong Kong-listed shares of the e-commerce giant amplified by 4.91% or 1.98 points to $42.19 per share.
Conversely, its rival Alibaba shed 0.74% or 0.15 points to $20.79 per share.
Nevertheless, both of the companies hit sales records at the world’s largest online shopping event yesterday.
Subsequently, JD.com posted a transaction volume of $54.60 billion on its platform, a 28.00% hike from the $42.49 billion last year.
At the same time, the gross merchandise volume (GMV) of Alibaba climbed 8.00% to $84.54 billion from $77.99 billion.
The transaction volume and GMV does not equate to the direct revenue of the companies, but they indicate consumers’ appetite.
Meanwhile, Tencent Holdings rebounded from its plunge as it increased 1.59% or 0.98 points to $62.26 per share.
On late Wednesday, the gaming and social media firm announced its slowest revenue growth since it went public in 2004, implicated by a regulatory crackdown.
On the other hand, Semiconductor Manufacturing International Corporation plummeted 3.83% or 0.12 points to $2.90 per share.
The downward movement of the Chinese chipmaker came after the business mentioned that a top executive and multiple board members resigned.
Overall, the Hang Seng Tech index edged up 1.24% or 0.01 points to $6.51
Then, other technology shares in the Asia-Pacific stocks also posted gains.
For instance, Japanese conglomerate Softbank Group improved 2.58% or 1.51 points to $60.07 per share.
Similarly, South Korea’s LG Electronics boosted 3.83% or 3.82 points to $103.52 per share.
Broader Asia-Pacific Stocks Rise; Nikkei 1.13% Up
Furthermore, Hong Kong’s Hang Seng index elevated 0.32% or 79.98 points to $25,327.97 per share.
In mainland China, the Shanghai Composite index climbed 0.18% or 6.31 points to $3,539.10 per share.
Consequently, the benchmark Shenzhen Component strengthened 0.04% or 5.62 points to $14,705.37 per share.
In Japan, the Nikkei 225 index grew 1.13% or 332.11 points to $29,609.97 per share.
Subsequently, the broader TOPIX index escalated 1.31% or 26.30 points to $2,040.60 per share.
In South Korea, the KOSPI soared 1.50% or 43.88 points to $2,968.80 per share.
Additionally, Australia’s S&P/ASX 200 index widened 0.83% or 61.10 points to $7,443.00 per share.
In general, the MSCI’s broadest index of Asia-Pacific stocks outside Japan enhanced 0.61% or 3.93 points to $653.29 per share.