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22 Feb, 2012 - Tech stocks lead Asia to gains

Tech stocks lead Asia to gains

The MSCI Asia Pacific Index added 0.3% on Wednesday, with two stocks rising for each one that fell, whilst the Japanese Nikkei 225 Stock Average advanced 0.96%, the Shanghai Composite Index climbed 0.91% and the Hang Seng was little changed.

Technology stocks contributed the most to the advance, with companies such as Alibaba.com, which claims to be the world's largest online business-to-business trading platform, surged 42% after its parent company bid to buy out minority shareholders.

Notably, small Tokyo-listed companies headed for their biggest daily gains in over 50 years. Japan’s TSE Second Section Price Index, an index of smaller companies on the Tokyo Stock Exchange, added 0.8% to advance for the 27th consecutive day, the longest streak since 1961.

If you wish to learn more about the investment opportunities in Asia, speak to a deVere Financial Adviser today.

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