HK Stock Market Ignores Political Violence

Hong Kong stocks finished with healthy gains on Tuesday as dealers returned from a long weekend to play catch-up with the rest of the region, with overnight violent protests in the city appearing to have had little effect on sentiment.

The Hang Seng Index rose 1.2 percent, to 28,875.

"Unless this apparent one-off act of civil disobedience, turns into a much much longer affair it won't have any lasting economic impact. And while it is causing a few ripples, it won't trigger a tidal wave impact on markets," said Stephen Innes at Vanguard Markets.

On the mainland, the Shanghai Composite Index closed flat at 3,043 while the Shenzhen Composite Index edged up 0.2 percent, to 1,619.

Most other Asian markets took a breather as the previous day's gains fuelled by the resumption of China-US trade talks were offset by worries about the global economic outlook following the release of disappointing factory data.

Tokyo and Sydney each ended 0.1 percent higher, Wellington was up 0.6 percent and Manila added 0.3 percent.

But Singapore off 0.1 percent, Seoul shedding 0.4 percent and Taipei down 0.3 percent. Mumbai, Jakarta and Bangkok also slipped.

"Traders found themselves running too far ahead of the economic realities after a swathe of disappointing manufacturing reports from the US, China and Europe provided a not-too-subtle reminder that the outlook for global growth remains quite harmful to risk sentiment," said Innes. (AFP)