BANGKOK — Shares advanced Tuesday in Asia after Wall Street shook off an early bout of unsettled trading and ended higher.Hong Kong’s benchmark Hang Seng HK:HSI gained 0.2% to 15,223 after a 6.4% selloff the day before that took it to its lowest close in 14 years.
At a press briefing Tuesday, Hong Kong leader John Lee said his administration’s assessment showed market activities were running in an orderly way, though he urged investors to make careful decisions. The S&P 500 SPX rose 1.2% to 3,797.34, with technology, health care and financial stocks accounting for a big share of the gains. Only materials and real estate sector stocks fell.
Trading has been volatile this month, but the major indexes are solidly higher entering the last full week of October after a couple of big market rallies last week. The Federal Reserve and central banks around the world have been raising interest rates to tame inflation and those increases have been weighing on pricier stocks, like technology companies, by making less-risky bonds seem more attractive in a volatile stock market.