Hong Kong and mainland markets rose on Thursday as healthcare stocks surged and tech shares rebounded from a selloff amid a broader recovery across Asia.

In Hong Kong, the benchmark Hang Seng Index ended 203 points, or 0.8 percent, up at 25,698 on turnover of HK$269 billion.

The tech index was 18 points, or 0.4 percent, higher at 4,700 while the China enterprises index gained 76 points, or 0.9 percent, to finish the day at 8,547.

On the mainland, the benchmark Shanghai Composite Index ended up nine points, or 0.24 percent, at 3,903.

The Shenzhen Component Index was 82 points, or 0.59 percent, higher at 13,972 while ChiNext Index gained 22 points, or 0.64 percent, to 3,495.

Investors drew solace from strength in neighbouring markets following the global tech selloff in the previous session.

In Tokyo, the Nikkei rose 890 points, or 1.36 percent, to end at 66,216 after US measures to steady its bond market helped restore investor sentiment and demand for riskier assets.

The broader Topix rose 47 points, or 1.18 percent, to 4,059.

In Seoul, the Kospi surged 381 points, or 5.89 percent, to 6,852 in rebounding from steep losses in the previous session as chipmakers rallied on shareholder return measures.

Sentiment was also aided by a fresh batch of Chinese companies – including Foxconn Industrial Internet and CCCC Design & Consulting – announcing share buybacks or purchases.

Healthcare stocks surged in both Hong ⁠Kong and the mainland after Moderna and Merck on Wednesday announced a major success in a new field of cancer treatment that sent Moderna's shares surging up to 160 percent while Merck jumped 12 percent.

China's CSI Vaccine and Biotech Index shot up nine percent while Hong Kong's innovative drug index advanced more than four percent.

Meanwhile, tech shares clawed back some of Wednesday's losses.

The Star100 Index gained two percent after a seven percent loss while Hong Kong's AI Index firmed 2.3 percent.

But shares of Chinese humanoid robot maker Unitree tumbled 19 percent after soaring more ⁠than fivefold in a blockbuster trading debut in Shanghai on Wednesday.(Reuters/Xinhua)



Edited by Tony Sabine