Shares were higher in Asia on Monday after Wall Street capped a week of losses with a broad rally for stocks Friday.
Hong Kong’s Hang Seng index HK:HSI surged 2.2%, while the Shanghai Composite index CN:SHCOMP gained 1.2%. In Seoul, the Kospi KR:180721 jumped 1.7%, while Australia’s S&P/ASX 200 AU:XJO added 0.8%.Hong Kong’s Hang Seng index HSI surged 2.2%, while the Shanghai Composite index SHCOMP gained 1.2%. In Seoul, the Kospi 180721 jumped 1.7%, while Australia’s S&P/ASX 200 XJO added 0.8%.
“We recognize this is a tough time for New Zealanders and the rise in the cost of living is making it hard for many,” said Finance Minister Grant Robertson. Solid earnings from big companies and an encouraging report on consumer sentiment helped lift shares on Friday, but Wall Street benchmarks still ended the week lower.
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