HSI Ends The Week Strongly Amid Asian Rally

Hong Kong stocks ended on Friday with healthy gains as governments begin to ease up on lockdown measures that have hammered the global economy.

The Hang Seng Index rose over 1 percent, to 24,230.

On the mainland, the Shanghai Composite Index climbed 0.8 percent, to 2,895 while the Shenzhen Composite Index gained 1.2 percent, to 1,809.

Tokyo soared 2.6 percent, while Seoul jumped 0.9 percent.

Mumbai piled on more than 1 percent, while Sydney and Taipei both put on 0.5 percent.

There were also gains in Wellington, Bangkok and Jakarta, though Singapore, Manila and Jakarta dipped.

News that China and the US had committed to implementing a partial trade deal that was signed off in January and brought a pause to their debilitating trade war provided much-needed support to markets.

"That will be of substantial relief to markets, as the last thing the world economy needed right now, was an escalation in hostilities on that front," said Oanda's Jeffrey Halley.

The easing of lockdowns has provided a boost to beaten-down oil markets as traders bet on a pick-up in demand and easing of a supply glut that sent West Texas Intermediate (WTI) into negative territory last month. (AFP)