HSI Claws Back Into Black, Mainland Markets Down

Hong Kong stocks finished with small gains on Wednesday as optimism over the easing of global lockdowns and hope for a vaccine offset worries about the depth of the economic wounds inflicted by the pandemic.

The Hang Seng Index added 0.1 percent, to 24,399.

But on the mainland, the Shanghai Composite Index fell 0.5 percent, to 2,883 while the Shenzhen Composite Index slipped 1 percent, to 1,805.

Tokyo ended 0.8 percent up, Sydney rose 0.2 percent and Mumbai added 0.9 percent, while there were also advances in Seoul, Taipei, Manila and Bangkok.

But Singapore shed 0.9 percent and Jakarta dropped 0.3 percent.

Investors were keeping tabs on Washington, where House Democrats have passed a US$3 trillion aid bill, to add to a similar stimulus already agreed.

But Republican senators are unlikely to push it through, saying existing measures should first flow through the economy.

Analysts have warned that the deep divisions on Capitol Hill, particularly with elections in November, will likely mean any new deal cannot be expected any time soon. (AFP)