HSI Gains, New Data Weighs Down Shanghai

Hong Kong stocks ended on a positive note on Wednesday with attention now turning to the start of key congressional testimony from Federal Reserve boss Jerome Powell later in the day.

The Hang Seng Index added 0.3 percent, to 28,204.

On the mainland, the Shanghai Composite Index slipped 0.4 percent, to 2,915 while the Shenzhen Composite Index lost 0.5 percent, to 1,550 after data showed June factory prices were unchanged from a year ago and fell from the previous month, hit by the US trade war.

"The fall in non-food inflation suggests consumption remains weak, which would likely put pressure on regulators to introduce more consumption stimulus," aid Stephen Innes at Vanguard Markets.

Most other Asian markets rose after two days of losses. Sydney rose 0.4 percent while Singapore and Seoul each put on 0.3 percent.

Wellington jumped more than 1 percent and Taipei gained 0.9 percent with Bangkok and Jakarta also up.

There was also a little optimism on news that top-level negotiators from China and the US had held phone talks on trade.

But Tokyo ended down 0.2 percent and Mumbai was off 0.4 percent in the afternoon. (AFP)