HSI Ends On A Nervous Note Ahead Of Trump Move

Hong Kong stocks finished with more losses on Friday as traders nervously await Donald Trump's news conference, in which he will set out the US response to China's plans to impose a security law on the financial hub.

The Hang Seng Index fell 0.7 percent, to 22,961.

Across the border, the Shanghai Composite Index rose 0.2 percent, to 2,852 while the Shenzhen Composite Index jumped 1 percent, to 1,786.

Tokyo dipped 0.2 percent, Sydney shed 1.6 percent, Mumbai fell 0.4 percent and Singapore eased 0.4 percent while Bangkok eased 0.2 percent.

However, Manila rallied 4.8 percent as the Philippines prepares to ease a lockdown in the capital and allow local flights to resume, despite a spike in daily new cases. There were also gains in Wellington and Jakarta.

While there is a lot of nervousness, traders are drawing support from some parts of the world gradually returning to a semblance of normality as death and infection rates of coronavirus ease.

Still, some observers remain nervous.

"I'm very cautious on my medium- and even long-term outlook for the markets," Kate Jaquet at Seafarer Capital Partners told Bloomberg TV.

"I perceive there to be a very large disconnect between stock market valuations across the globe and underlying company fundamentals." (AFP)