Hong Kong and mainland benchmarks rose. The Hang Seng traded at the highest level since July in a repeat of Wednesday’s session as Alibaba Group Holding led the index for the second day, signalling fresh appetite for Chinese tech stocks. Shares in South Korea, Japan and Australia fluctuated. Contracts for the Euro Stoxx 50 and S&P 500 benchmarks fell.
“Optimism on reopening and supportive policy can continue to drive the market for now, along with investors’ fear of missing out, but at some point it will have to take a pause for re-evaluation,” said Vey-Sern Ling, managing director at Union Bancaire Privee. “It’s always hard to call an end to momentum-driven rallies.”
The price of crude rose after falling 9.5% in two days, including the biggest daily decline since September on Wednesday. China’s
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