Asia’s hottest tech stock soars 713% with buy now, pay later platform

The hottest stock in Asia since markets hit their nadir in March amid the peak of the coronavirus impact is an Australian payment company that is seeking to cash in on the global change in spending habits. Installment payment platform operator Afterpay Ltd. has surged 713% to become the top performer on the 1,574 member MSCI Asia Pacific Index since the gauge’s March 23 low, according to data compiled by Bloomberg. Flowing government stimulus, a shift to digital payments and stuck-at-home shoppers have bolstered expectations for the firm as it expands across the US, UK and Canada.