Asia Markets: South Korea leads gains in Asia as markets rebound

Asian equities bounced back on Thursday, tracking overnight U.S. gains following a deal to extend the federal government’s borrowing limit for three months.

Recent tensions in the Korean Peninsula were a trigger for investors to take profit from this year’s robust gains, with stock indexes in markets like Hong Kong, South Korea, India and Singapore notching double-digit increases.

Korea’s Kospi SEU, +1.06% led gains, rising 1.2%, as attention — for now — shifted away from North Korea. The rebound came after five consecutive trading sessions in the red, to mark its longest losing streak since April. Elsewhere, Hong Kong’s Hang Seng Index HSI, +0.24% was up 0.5% as trading began, while Singapore’s Straits Times Index STI, +0.16% added 0.4%.

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