HSI Ends The Week In Red, Asian Markets Mixed

Hong Kong stocks finished slightly lower on Friday, marking a fourth straight loss as investors fret over a second wave of infections, the long path to economic recovery and brewing US-China tensions.

The Hang Seng Index eased 0.1 percent, to 23,797.

On the mainland, the Shanghai Composite Index fell 0.1 percent, to 2,868 while the Shenzhen Composite Index gained 0.2 percent, to 1,808.

Regional markets were mixed at the end of a tough week for global equities.

Mumbai and Jakarta each slipped 0.9 percent.

Manila sank 2 percent as the country braces for Typhoon Vongfong, which has forced tens of thousands to cram into evacuation shelters while trying to follow social distance protocols.

But Tokyo ended 0.6 percent higher, while Sydney jumped more than 1 percent with Seoul, Taipei and Bangkok also in the green.

Crude jumped as much as 4 percent to put both contracts on course for a third week of gains on optimism for demand as people slowly emerge from lockdowns and output is slashed.

"Market sentiment has turned cautiously constructive since the end of April and I expect it to remain as such unless there are major setbacks in terms of infection rates," Vandana Hari, of Vanda Insights, said.

However she added that expectations over demand will stay "fragile with a nervous eye on how economies fare in reopening". (AFP)