HSI Edges Up, But Asian Markets Remain Sluggish

Hong Kong stocks ended Friday's morning session with minor gains but sentiment was clouded by uncertainty over the increasingly fraught China-US trade row.

The Hang Seng Index added 0.2 percent, to 27,323 by the break.

On the mainland, the Shanghai Composite index was down 0.4 percent, to 2,851 while the Shenzhen Composite Index lost 0.5 percent, to 1,496.

Tokyo went into the break 0.7 percent lower, Sydney lost 0.7 percent and Seoul fell 0.8 percent. Singapore and Wellington each dipped 0.3 percent and Manila dived 1.5 percent.

But Taipei added 0.2 percent and Jakarta edged up 0.1 percent.

Uncertainty on trading floors has fuelled a rally in bonds with yields on the 10-year Treasury touching their lowest level in 19 months, indicating rising demand for the safe-haven assets.

Oil enjoyed a bounce of more than 1 percent, but only made a slight dent in the huge falls suffered the day before – WTI shed 5.7 percent and Brent lost 4.5 percent – that were caused by concerns about the impact of the trade war on demand. (AFP)

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