HSI Edges Up As Asian Markets Rise On Trade Talks

Hong Kong stocks returned from a long weekend break with gains on Tuesday as investors look ahead to the resumption of China-US trade talks.

The Hang Seng Index rose 0.3 percent, to 25,893.

The gains come despite more violent protests in the city, which closed down the MTR services on Saturday and caused numerous businesses to shutter.

On the mainland, the Shanghai Composite Index gained 0.3 percent, to 2,913 and the Shenzhen Composite Index edged up 0.2 percent, to 1,598.

Tokyo closed 1 percent higher. Sydney and Singapore were each 0.5 percent higher, Seoul rose 1.2 percent, Manila jumped 0.7 percent, Taipei added 0.8 percent and Jakarta put on 0.4 percent. Wellington and Bangkok were also up.

"The fact that both sides are due to meet is seen as positive step, and just because Beijing are not willing to alter their position on certain topics, don't mean that progress can't be made in other areas," said David Madden, market analyst at CMC Markets UK.

On currency markets most higher-yielding units were up against the dollar, boosted by hopes for the trade talks.

But the Turkish lira was down almost two percent after Trump threatened to "obliterate" the country's economy if it overstepped the mark in Syria, a day after giving Ankara a green light to invade its southern neighbour. (AFP)