Hong Kong, Shanghai Markets Rise On Trade Talks

Hong Kong stocks rose on Tuesday morning, extending their latest winning streak into a fourth day following a record-breaking lead from Wall Street, with investors buoyed by China-US trade optimism.

The Hang Seng index jumped 0.5 percent, to 27,694.

On the mainland, the Shanghai Composite Index rose 1 percent, to 3,004 while the Shenzhen Composite Index gained 0.8 percent to 1,659.

Other Asian markets were mixed as investors took a step back after recent rallies, awaiting the next developments in the China-US trade talks.

The Nikkei ended the morning more than 1 percent higher, Sydney and Singapore each added 0.2 percent and Taipei was 0.4 percent up.

"The question is whether the market has now priced in the ... phase one trade deal," said AxiTrader senior market analyst Stephen Innes.

"And for the time being it appears, risk markets are in benefit-of-the-doubt mode, preferring to look through any fragility in macro data, while applying a higher weight to comments on trade." (AFP)

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