Hong Kong, Shanghai Stocks Gain On Mainland Data

Hong Kong stocks went into the break with gains on Tuesday, extending a rally into a third day, with traders cheered by forecast-beating manland economic data.

The Hang Seng Index rose 0.5 percent, to 24,759.

On the mainland, the Shanghai Composite Index rose 0.3 percent, to 3,289 while the Shenzhen Composite Index ticked up 0.5 percent, to 2,200.

This came as the National Statistics Bureau said the mainland's industrial output growth quickened to 5.6 percent in August from a year earlier, the fastest gain in eight months.

Sydney and Seoul all rose, while there were also advances in Taipei, Singapore and Wellington though Tokyo, Manila and Jakarta edged lower.

On currency markets, the pound remained under pressure as Britain and the European Union sparred over Prime Minister Boris Johnson's legislation that would break the Brexit deal signed earlier this year, with regard to several key areas related to Northern Ireland.

"Tensions within the UK Conservative party over the PM's internal market bill continue to fester," said Stephen Innes at AxiCorp.

"There will likely be no clarity on Brexit well into November or even December, suggested by the latest sharp deterioration in the tone of negotiations." (AFP)

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