Hong Kong Shares Jump As Regional Markets Rally

Hong Kong shares on Thursday wiped out the previous day's losses as soothing words on Donald Trump's tariffs plans eased concerns about a global trade war.

The Hang Seng Index rallied 1.5 percent, to end at 30,654.

On the mainland, the benchmark Shanghai Composite Index climbed 0.5 percent, to 3,288 and the Shenzhen Composite Index rallied a little over 1 percent, to 1,856.

Regional markets were mostly higher, with Tokyo climbing 0.5 percent, helped by figures showing the Japanese economy grew at a faster pace than first reported in the final three months of 2017.

Sydney climbed 0.7 percent, while Seoul surged 1.3 percent. Singapore, Wellington and Taipei were also sharply up.

But market-watchers expect the volatility to continue for some time, with data showing a bigger than expected rise in the US trade deficit to a nine-year high.

Oil prices edged up slightly but struggled to claw back the two percent losses suffered Wednesday on the back of a surge in US crude output. The black gold is also facing pressure from concerns over a trade war. (AFP)