Hong Kong Market Gains As Asian Investors Return

Hong Kong shares went into the break on Monday sharply higher following last week's battering, with investors cheered by a rally on Wall Street.

The Hang Seng Index rose 0.7 percent, to 29,717, having dived more than 9 percent over the previous five trading days.

On the mainland, the Shanghai Composite Index gained 0.8 percent, to 3,155, and the Shenzhen Composite Index climbed 2.4 percent to 1,718.

Most Asian markets mostly rose on Monday as investors cautiously edged back into buying.

Seoul gained 0.9 percent, with traders cheered by signs of a thaw in relations between North and South Korea during the Winter Olympics after Kim Jong Un -- whose sister attended the opening ceremony in Pyeongchang -- invited the South's President Moon Jae-in for a summit in Pyongyang.

Singapore rose 0.1 percent while Taipei added 0.6 percent and Manila 0.1 percent but Sydney eased 0.4 percent.

Tokyo was closed for a public holiday.

On currency markets, the US dollar suffered further selling against the safe-haven yen, while the euro and the pound held their gains against the greenback on expectations of tighter borrowing costs in Europe and Britain. (AFP)

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