Hong Kong Stocks Open The Week With A Jump

Shares in Hong Kong and Shanghai surged on Monday, as investors tracked a positive lead from Wall Street on optimism over the China-US trade talks.

The Hang Seng Index in Hong Kong climbed 1.4 percent, to close at 29,409.

On the mainland, the Shanghai Composite Index jumped 2.5 percent, to 3,096 and the Shenzhen Composite Index rallied 2.7 percent, to 1,685.

Tokyo ended 0.6 percent higher. Sydney edged up 0.3 percent and Singapore was 0.4 percent stronger while Seoul, Wellington, Taipei and Jakarta were also well in the green.

"The positive vibe from last week appears to have carried over into Asia at the start of the new week, as optimism about a US, China trade deal once again returns to the fore," said Michael Hewson, chief market analyst at CMC Markets UK.

The pound held most of its gains as Prime Minister Theresa May tries to push her EU divorce deal through parliament for a third time, failure of which could see Britain extend its exit deadline or possibly crash out of the bloc.

"The two most likely scenarios ... are that Theresa May's deal finally gets approved on a third attempt, or that Brexit is delayed on the condition of a referendum or general election being held," said AxiTrader's Hughes.

"Both would be very positive for the pound." (AFP)