Hong Kong Stocks Edge Up, Oil Prices Jump

Hong Kong stocks ended Thursday's morning session with small gains, in line with a tentative advance across Asia following a positive lead from Wall Street and oil prices witnessed a sharp rally as US-Iran tensions rose.

The Hang Seng Index gained 0.2 percent, to 23,948.

On the mainland, the Shanghai Composite Index edged up 0.2 percent, to 2,8480 while the Shenzhen Composite Index slipped 0.3 percent, to 1,766.

Sydney added 0.5 percent and Seoul rose 0.8 percent, while Tokyo went into the break 0.7 percent higher.

Taipei added 0.6 percent and Manila was more than 1 percent up with New Zealand gaining 0.8 percent.

Oil prices soared as escalating tensions between the US and Iran in the Gulf eclipsed concerns about a coronavirus-triggered demand shock and storage facilities reaching capacity.

US benchmark West Texas Intermediate rose 9.7 percent to US$15.12 a barrel, extending big gains from the previous session. Brent crude was up 9 percent to US$22.21 a barrel. (AFP)

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