HSI Gains, Mainland Markets Reopen With Rallies

Hong Kong stocks rose on Monday as US officials in Beijing geared up for key trade talks and mainland Chinese markets reopened after the Lunar New Year week.

The Hang Seng Index gained 0.7 percent, to 28,143.

Social media and gaming giant Tencent saw healthy gains, along with smartphone component makers such as Sunny Optical Technology and AAC Technologies.

On the mainland, the Shanghai Composite Index closed 1.4 percent higher, to close at 2,653 while the Shenzhen Composite Index jumped 2.9 percent, to 1,347.

The mainland investors were catching up as they were back in action after a week long holiday.

Authorities had introduced a series of piecemeal measures in recent weeks, and right up to the Lunar New Year break, aimed at encouraging lending, supporting small and medium-sized businesses, and spurring investment into stocks and bonds.

Around the region, Seoul edged up 0.2 percent, but Sydney shed 0.2 percent. Jakarta, Manila and Singapore also posted losses. Tokyo was closed for a holiday. (AFP)