HSI Finishes Strongly As Macau Casino Shares Rally

Hong Kong shares finished on a healthy note on Tuesday, boosted by hopes for upcoming China-US trade talks and optimism that lawmakers in Washington will eventually push though a new stimulus package.

The Hang Seng Index rose 2.1 percent, to 24,890.

Shares of Macau casinos rallied on news that the mainland would resume issuing tourist visas to the SAR, reopening a crucial revenue stream for resorts that have been battered by a crash in tourist numbers.

On the mainland, the Shanghai Composite Index shed 1.15 percent, to 3,340, while the Shenzhen Composite Index retreated 1.5 percent, to 2,243.

Tokyo jumped 1.9 percent as investors returned from a long weekend to play catch-up with Monday's advances, while Seoul and Bangkok each piled on more than 1 percent. Sydney, Mumbai, Jakarta and Manila were all in the green.

But Singapore fell 0.8 percent after data showing the city's economy contracted more than first thought in the second quarter. Wellington and Taipei were also down.

As the pandemic hustles economies around the world, the US-China stand-off has been a major headache, with the two sides butting heads on several issues that have fanned worries they could renew their damaging trade war.

However, there are hopes that they will stick to their commitments after talks at the weekend to review their January tariffs pact.

Meanwhile, Bloomberg News reported that China would increase buying of soybeans from the US and ditch expensive Brazilian purchases.

"The strong sense is that the Trump administration won't want to jeopardise the deal this side of the election for fear of alienating the important Midwest farming constituency," said Ray Attrill at National Australia Bank. (AFP)