HK Shares Up, But Most Asian Markets Retreat

Hong Kong shares rose in the morning session on Wednesday, with energy firms boosted by a surge in oil prices after Donald Trump withdrew the US from the Iran nuclear deal.

The Hang Seng Index rose 0.4 percent, to 30,525 by the break.

On the mainland, the Shanghai Composite Index edged up 0.1 percent, to 3,163, while the Shenzhen Composite Index, which tracks stocks on the mainland's second exchange, was more or less flat at 1,836.

Despite the energy sector's gains, Asian equity markets were in the red, with Tokyo ending the morning session 0.4 percent lower.

Singapore fell 0.3 percent and Seoul was off 0.6 percent while Sydney was barely moved. Manila and Jakarta fell but Wellington and Taipei were positive territory.

The hike in oil prices boosted regional energy firms, with CNOOC, PetroChina and Sinopec all up almost 2 percent in Hong Kong, while Inpex added a similar amount in Tokyo. Sydney-listed Woodside Petroleum and Rio Tinto were also well up. (AFP)

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