HK Stocks Remain Buoyant, Asian Markets Mixed

Hong Kong stocks ended Wednesday morning on a slightly positive note as traders weigh upbeat economic data and the easing of lockdowns against a pick-up in infections in several countries.

The Hang Seng Index added 0.1 percent, to 24,921.

On the mainland, the The Shanghai Composite Index added 0.2 percent to 2,976, while the Shenzhen Composite Index gained 0.3 percent to 1940.

Sydney were 0.1 percent down, while Singapore and Manila dipped 0.2 percent.

But Tokyo was up 0.1 percent by lunch, while Jakarta jumped more than 1 percent and Taipei put on 0.4 percent and Wellington rose 0.7 percent.

Seoul climbed 1.5 percent with help coming from a report that North Korean leader Kim Jong-un has suspended plans for military action against the South in an apparent easing of tensions just over a week after Pyongyang blew up a liaison office.

While equities have been on an upward trajectory, gold – a key safe haven in times of uncertainty – has also been on the up as the relatively weak US dollar makes it cheaper to buy, while investors are also keeping an eye on a fall-back in case the crisis erupts again.

The yellow metal is up around 17 percent since the end of December and sitting at a seven-and-a-half-year high of US$1,775. (AFP)

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