Hong Kong Stocks Join Asian Market Rally

Hong Kong stocks rose on Monday morning, in line with an Asia-wide rally, on hopes for China-US trade talks and following upbeat economic data out of Beijing.

The Hang Seng Index added 0.6 percent, to 30,084.

On the mainland, the Shanghai Composite Index jumped 1.1 percent, to 3,224 while the Shenzhen Composite Index added 0.9 percent to 1,754.

Most Asian markets chalked up healthy gains as investors cheered a strong start to the US earnings season, while Donald Trump's treasury chief indicated trade talks with China were in their end-stage.

Tokyo went into the break 1.5 percent higher, Singapore gained 0.2 percent, while Wellington added 0.4 percent and Seoul and Taipei both jumped 0.7 percent.

Manila and Jakarta were also up though Sydney edged down slightly.

New York's three main indexes provided a positive lead after Wall Stret titan JP Morgan recorded a pick-up in profits, suggesting the economy remains in rude health and fuelling optimism for upcoming corporate reports.

"The environment of easier financial conditions is beginning to have an impact on the broader economy," Binay Chandgothia at Principal Global Investors told Bloomberg TV.

"If that is the case and growth does pick up, you'll see an uptick in analyst expectations and earnings as well, which should help continue the rally." (AFP)

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