Asia Markets: Hang Seng hits a record while other Asian markets fight for gains

While other Asian markets mostly marked time Friday, Hong Kong’s Hang Seng Index rose to a record.

Regional stocks were affected by the late-Thursday rally in the U.S. dollar, which came after President Donald Trump declared the currency would get stronger. The dollar pulled back after rising further in early Asian trading, with the Wall Street Journal Dollar Index BUXX, -0.47% recently down early 0.5%%.

The Hang Seng HSI, +1.53% closed up 1.5% on strength in bank stocks, a major part of the index. organ Stanley boosted its stock target on a number of Chinese lenders, including China Construction Bank 0939, +5.60% and Industrial & Commercial Bank of China 1398, +3.97% , citing signals that include higher earnings forecasts.

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