(Bloomberg) — Asian stocks rose for a third day, buoyed by advances in Japanese shares and as investors placed fresh bets on Chinese tech companies.
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Hong Kong equity benchmarks outperformed in Asia with gains around 2%, boosted by BYD Co. shares at a record after it unveiled a new charging system for electric cars. Japanese gauges were up more than 1%. That’s after US stocks climbed for a second day, as industrial and energy shares rallied.
China’s world-beating stock rally may get a fresh catalyst from a slew of tech earnings, with Xiaomi Corp. and Tencent Holdings Ltd. set to report this week. While Beijing’s briefing on bolstering consumption was seen as disappointing by some, Tuesday’s market reaction suggests investors remain positive over the outlook. BYD’s tech advancement also reinforces a narrative of the global competitiveness…
