Hong Kong Stocks Extend Win Streak To Six Days

Hong Kong stocks closed higher on Tuesday, extending their rally into a sixth successive day, though early gains were tempered by profit-taking.

The Hang Seng Index rose 0.2 percent, or 62 points, to close at 29,624. The benchmark Shanghai Composite Index also gained 0.2 percent, or 6 points, to 3,176, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.1 percent to 1,757.

Other Asian markets mostly rose, but gains were tempered by profit-taking after a recent rally.

Sydney ended 0.4 percent higher and Singapore rose 0.6 percent, but Tokyo finished marginally lower.

Analysts say investors remain optimistic over China-US trade talks and the prospect of no hike in borrowing costs. A forecast-beating factory report out of Beijing – which spurred buying across the region on Monday – was followed by a similarly positive US reading, tempering worries about the outlook for the world's biggest and most crucial economies.

Traders are now awaiting the start of the next round of top-level trade talks in Washington, with China and the US noting progress in a meeting last week in Beijing.

A series of olive branch measures from the Chinese side has lifted hopes the two will eventually reach a deal to end their tariffs row, which dragged on equities at the end of 2018.

This week also sees the release of US March jobs data, which are closely watched for an idea about the state of the economy, with the Federal Reserve also using the figures to map its path for monetary policy. The Fed's recent dovish lean has helped propel a rally across share markets this year, with other central banks also looking to ease up on their tightening moves. (AFP)