HSI Rise But Asian Markets Remain Edgy

Hong Kong stocks rose on Wednesday, tracking gains on Wall Street, though investors remain nervy over the global economy while attention turns to the resumption of China-US trade talks this week.

The Hang Seng Index rose 0.6 percent, to close at 28,728.

On the mainland, the Shanghai Composite Index climbed 0.9 percent, to 3,022 and the Shenzhen Composite Index added 0.9 percent, to 1,654.

After fluctuating through the morning, most other Asian markets were higher. Sydney adding 0.1 percent and Singapore up 0.4 percent.

Mumbai rose 0.5 percent and Wellington surged 1.3 percent after the New Zealand central bank hinted at an interest rate cut.

However, Tokyo and Seoul each slipped 0.2 percent, while Manila, Taipei and Bangkok also retreated.

Regional energy firms have been given a lift by rallying oil prices after major producer Russia said it was on track to slash output this month, keeping it on track to meet commitments to a deal with Opec.

"Investors are becoming more confident they can trust Russia's relationship with Saudi Arabia, and supply disruptions in Venezuela are raising concerns the market will tighten further," Takayuki Nogami, chief economist at Japan Oil, Gas and Metals National Corp, told Bloomberg News.

On currency markets, the pound was stable as British MPs prepare to vote on a number of options for the way forward after wresting control of the Brexit debate from Prime Minister Theresa May. (AFP)