Hong Kong Continues Rally, Pound Edges Up

Hong Kong shares finished on Thursday morning in positive territory after recovering from early losses as investors tracked a positive lead from Wall Street while the pound extended gains against the US dollar.

The Hang Seng Index added 0.4 percent,to 27,000 by the break.

On the mainland, the benchmark Shanghai Composite Index gained 0.5 percent, to 2,582, but the Shenzhen Composite Index was flat, at 1,321.

Tokyo was down 0.2 percent by the break and Singapore slipped 0.4 percent.

But Sydney edged up 0.1 percent while Seoul put on 0.2 percent with Taipei, Wellington, Manila and Jakarta also in positive territory.

The pound extended gains against the US dollar after Prime Minister Theresa May survived a no-confidence vote.

On Wednesday she survived a no-confidence vote and is now planning her next move, with speculation swirling that the March 29 date for leaving will be delayed or another referendum will be called.

"Nothing has happened in the last 24 hours to dissuade us from the view that we are headed in the direction of an [exit] delay, softer Brexit... or no Brexit," said National Australia Bank strategist Ray Attrill. (AFP)

______________________________