Hong Kong Gives Up Gains, Mainland Markets Up

Hong Kong stocks gave up its early gains and ended the morning slightly lower on Friday despite positive comments from Beijing and Washington as investors began to wind down ahead of the long Lunar New Year break.

The Hang Seng Index dipped 0.3 percent, to 27,854 by the break.

But on the mainland, the Shanghai Composite Index rose 0.8 percent, to 2,604, while the Shenzhen Composite Index jumped 1.8 percent, to 1,297.

But other regional investors treading carefully as China-US trade talks ended with no deal but with both sides sounding notes of optimism and setting up more high-level meetings later this month.

Tokyo ended the morning 0.1 percent higher, while Hong Kong was marginally lower and Shanghai added 0.4 percent.

Sydney was also flat, Singapore slipped 0.2 percent and Seoul added 0.2 percent, though Manila surged more than 1 percent.

While the negotiations ended with no agreement, Jeffrey Halley, senior market analyst at Oanda, said: "For the markets, which are clearly in 'risk-on' mood, it was a case of no news is good news." (AFP)

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