Hong Kong Shares Gain, Pound Stays Strong

Hong Kong stocks finished on Thursday on a positive note as investors keep tabs on China-US trade progress, with Donald Trump giving an upbeat assessment.

The Hang Seng Index rose 0.4 percent, to end at 27,120.

On the mainland, the Shanghai Composite Index added 0.4 percent, to 2,591, while the Shenzhen Composite Index added 0.5 percent, to 1,322.

Sydney ended up 0.4 percent, while Seoul jumped 0.8 percent and Singapore added 0.5 percent.

There were also advances in Wellington, Taipei, Manila and Jakarta though Tokyo closed 0.1 percent lower.

The pound is holding at two-month highs against the US dollar, supported by a belief that Britain will not exit the EU without a deal, despite Prime Minister Theresa May's controversial agreement being soundly defeated by MPs last week.

Traders are increasingly "convinced that the 'worst' that might happen on Brexit is that May's previously doomed Withdrawal Agreement might actually get over the line if the 'hard Brexiteers' in her government become convinced that the alternative is a (delay in leaving), a second referendum and potentially no Brexit", said National Australia Bank's Ray Attrill. (AFP)