Hong Kong Stocks Join Asian Market Rally

Hong Kong stocks extended a recent rally to four days on Tuesday as investors took their lead from a record performance on Wall Street, buoyed by China-US trade optimism.

The Hang Seng Index rose 0.5 percent, to 27,683.

Investors brushed off data showing a key measure of business confidence in the SAR fell to its lowest level in more than a decade as the city reels from global trade woes and violent

protests.

The Purchasing Managers Index – which measures the health of the private sector – dropped to 39.3 in October, its worst reading since 2008 during the global financial crisis, heaping fresh misery on the unrest-plagued city.

Bernard Aw, principal economist at IHS Markit, said: "Anecdotal evidence revealed that the retail and tourism sectors remained particularly affected."

On the mainland, the Shanghai Composite Index climbed 0.5 percent, to 2,991 while the Shenzhen Composite Index also rose 0.5 percent, to 1,655.

Tokyo led gainers as it reopened after a long weekend to play catch-up with Monday's rally.

The Nikkei ended 1.8 percent higher, while Sydney added 0.2 percent and Singapore put on 0.4 percent. Seoul climbed 0.6 percent, with Taipei rallying 0.8 percent. (AFP)