Hong Kong Stocks Rally Despite China-US Tension

Hong Kong stocks finished slightly higher on Thursday, clawing back some of the big losses suffered the day before, with traders tracking China-US tensions and talks in Washington over a new stimulus package.

The Hang Seng Index rose 0.8 percent, to 25,263.

On the mainland, the Shanghai Composite Index dipped 0.2 percent, to 3,325 while the Shenzhen Composite Index was flat, at 2,250.

Sydney gained 0.3 percent, and Singapore climbed 0.9 percent, while Mumbai and Jakarta put on 0.6 percent.

But Seoul, Taipei, Wellington and Manila were down.

Investors juggled hopes for a new stimulus deal in Washington with coronavirus concerns and another flare-up between China and the United States.

"Overall, the announcement is not a game-changer in the medium to longer-term. Financial markets have for some time been building up herd immunity to constant quarrels of the two school-yard bullies," said Oanda's Jeffrey Halley.

Investors are awaiting the release later in the day of US unemployment claims, which will provide a snapshot of the world's top economy in light of the reimposed containment measures around the country. (AFP)