Hong Kong, Shanghai Stocks Gain, Tokyo Down
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2019-01-28 HKT 09:47
Hong Kong stocks extended their recent rally on Monday morning as investors look ahead to a busy week that includes China-US trade talks, a Federal Reserve meeting, the release of US jobs data and another Brexit vote.
The Hang Seng Index added 0.4 percent, to 27,684 by the break.
On the mainland, the Shanghai Composite Index have up its earlier gains, but was still 0.2 percent up during the lunch break, while the Shenzhen Composite Index gained 0.2 percent, to 1,323.
Most other Asian markets rose. Singapore put on 0.3 percent. Seoul added 0.2 percent, Manila was up one percent and Taipei 0.5 percent.
However, Tokyo dipped 0.3 percent by the break.
While there have been conflicting reports on the likelihood of an agreement to solve the trade war, analysts say it is in the interests of both sides to reach a deal, with China's economy stuttering and President Donald Trump gearing up his re-election campaign.
"Although coming to an agreement is still tricky, both sides have little incentive to escalate tensions." said Tai Hui, chief market strategist for Asia-Pacific at JP Morgan Asset Management.
"Markets will at least expect an extension of the truce in tariff increases beyond early March, while more difficult issues are still being worked on by both sides." (AFP)
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Last updated: 2019-01-28 HKT 13:22
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