Asian equity markets were broadly higher on Tuesday, with Hong Kong leading the region thanks to sharp gains among Chinese banking and automotive stocks. Key Hong Kong heavyweights surged, led by a 9.5% rise in car maker Geely after Morgan Stanley ’s rating upgrade to overweight. Gains in Hong Kong followed record closes Monday for major U.S. stock indexes, as data bolstered optimism about the economy. Among other Asian markets, Taiwan’s Taiex was up 0.1% and Malaysia’s benchmark index rose 0.2%, after having closed lower for the last 10 trading sessions. That could send the dollar and U.S. Treasury yields higher, prompting a “selloff in higher-yielding Asian assets,” he said.

Source: Wall Street Journal October 03, 2017 03:09 UTC