HSI Gains As Asian Stock Markets Rebound

Hong Kong stocks on Thursday bounced back from the previous day's sell-off as fears over political turmoil in Italy subsided, while investors also cheered upbeat data on the mainland factory activity.

The Hang Seng Index climbed 1.4 percent, to 30,468.

On the mainland, the Shanghai Composite Index advanced 1.8 percent, to 3,095 and the Shenzhen Composite Index jumped 1.8 percent, to 1,767.

The gains were spread across Asia, with Tokyo ending 0.8 percent higher, while Sydney added 0.5 percent. Singapore climbed 0.3 percent and Seoul put on 0.6 percent.

Wellington, Kuala Lumpur and Taipei were also comfortably higher.

Oil prices were down slightly but holding up after they also rallied Wednesday in response to a report that said Opec would likely lift output gradually, soothing concerns about a new supply glut.

Crude markets have been hammered since Opec kingpin Saudi Arabia and Russia last week indicated they could lift a cap on production, which has supported prices for two years, as an oversupply crisis eases.

Investors are now looking forward to the release Friday of key US jobs figures, which could provide some idea about the Federal Reserve's plans for raising interest rates. (AFP)