Hong Kong’s Hang Seng Index followed mainland Chinese indexes to post its fourth consecutive gain today. The index rose 0.76% after rising by more than 2% yesterday. The iShares MSCI Hong Kong ETF (EWH) gained 1.68% yesterday, underperforming the Hang Seng Index. With Hong Kong equities continuing to surge, expect the ETF to extend the gains today. The ETF has returned 11.84% so far in 2019.
Nikkei 225 gains
Japan’s Nikkei 225 continued its surge for the third straight day today. The index gained 0.33% to close the day at 21,204.28. The index opened lower but continued its upward momentum until the lunch break. Afterward, it remained within a narrow range. The broad-based Tokyo Stock Price Index (or TOPIX) outperformed the Nikkei 225 by gaining 0.54% today. It followed a similar trajectory as the Nikkei 225, rising in the first half and staying steady in the second. 2,229 stocks gained, while 1,253 stocks declined on the Tokyo Stock Exchange. The Japanese yen dropped 12 basis points against the dollar today.