HK, Shanghai End A Bruising Week With Gains

Hong Kong stocks finished a painful week on a positive note on Friday but investors remain on edge about a possible trade war between China and the United States.

The Hang Seng Index rose 0.2 percent, to close at 29,338, sinking 3.18 percent over the week.

On the mainland, the Shanghai Composite Index gained 0.5 percent, to 2,889 but it lost 4.37 percent over the week. The Shenzhen Composite Index added 1.2 percent, to 1,597.39, shedding 5.57 percent since last Friday's close.

Tokyo ended 0.8 percent lower and Sydney lost 0.1 percent, while Singapore and Taipei each dropped 0.4 percent.

Among other markets Seoul rose 0.8 percent, Wellington was flat, and Manila and Bangkok pushed higher.

"We have a trade war – and it's an escalating trade war," said SEB chief economist Robert Bergqvist. "Investors ... are more cautious today, they are waiting for the right time to reduce their exposure in stock markets."

Oil prices rallied more than one percent ahead of an output decision from the Organistion of the Petroleum Exporting Countries, which kicks off a key meeting in Vienna later in the day. (AFP)