Hong Kong, Mainland Markets Rise On Trade Talks

Hong Kong stocks climbed in the morning session on Thursday, in line with a broad advance across Asia, as investors await news of progress in the China-US trade talks.

The Hang Seng Index rose 0.5 percent, to 28,664 by the break.

On the mainland, the Shanghai Composite Index soared almost 1 percent, to 2,787 while the Shenzhen Composite Index jumped 1.2 percent, to 1,465.

While there has been very little sign of progress, US President Donald Trump has insisted the talks are going "very well" and has indicated he could push back a deadline for a deal to be done, while investors remain upbeat.

However, observers warned of turmoil if expectations were not met.

"There's a lot of optimism baked into global markets on the outcome of the negotiations and precisely zero detail on the actual result," said Jeffrey Halley, senior market analyst at Oanda.

"A sub-optimal outcome could make for a potentially ugly correction in equities and currencies in particular."

Tokyo went into the break 0.1 percent lower.

Sydney rose 0.4 percent, Singapore slipped 0.2 percent and Seoul was off 0.3 percent. Wellington added 0.7 percent, Taipei was barely moved and Manila lost 0.5 percent. (AFP)

______________________________