Asian equities saw positive movements following Fed Chair Powell's testimony. South Korea performed well, while India observed the Mahabharat festival. Mainland China and Hong Kong experienced gains, with technology sectors leading the way. In Mainland China, the Ministry of Industry and Information Technology emphasized the importance of advancing 5G and computing infrastructure. Healthcare also saw an uptick in both Mainland China and Hong Kong, with a focus on addressing the aging population.
In Hong Kong, top-traded stocks included Tencent, CNOOC, Alibaba, Meituan, and Bank of China. Mainland investors showed interest in Hong Kong-listed stocks and ETFs. Meanwhile, Mainland China reported high volumes of net buying through Northbound Stock Connect.
