Hong Kong Stocks Extend Rally To Sixth Day

Hong Kong stocks rose for a sixth-straight day on Friday, topping off a strong week as investors are cheered by a dovish Federal Reserve and hopes for China-US trade talks.

The Hang Seng Index climbed 0.6 percent, to end at 26,667. It has risen more than 6 percent during its winning run.

On the mainland, the Shanghai Composite Index gained 0.7 percent, to 2,553, while the Shenzhen Composite Index added 0.8 percent, to 1,313.

Tokyo added 1 percent while traders also remained cautious ahead of a long weekend. Tokyo markets will be closed on Monday for a public holiday.

Singapore and Seoul each rose 0.6 percent, Taipei jumped 0.4 percent while there were also gains in Wellington, Bangkok and Jakarta, though Sydney, Manila and Mumbai eased.

Oil prices were mixed at the end of one of the best week for the two main contracts in two years. The strong gains were much-needed after losses of more than 40 percent from four-year between October and the end of December.

"Positive vibes on US-China trade talks, a relief rally in global equities, optimism in Opec-led cuts and falling US rig count have raised oil prices significantly in the new year," said Phillip Futures commodities analyst Benjamin Lu. (AFP)