HSI Rises On US Rate Cut Optimism, Shanghai Up

Hong Kong stocks ended the morning on a positive note on Friday, boosted by lingering optimism about an expected Federal Reserve interest rate cut.

The Hang Seng Index rose 0.5 percent, to 28,574 by the break.

On the mainland, the Shanghai Composite Index gained 0.4 percent, to 2,930, but the Shenzhen Composite Index rose 0.5 percent to 1,556.

Most Asian markets rose in early trade but gains were slight as investors applied the brakes after recent advances.

Tokyo went into the break marginally higher. Singapore and Seoul each gained 0.3 percent, Taipei put on 0.1 percent and Manila rose 0.3 percent.

But Sydney dipped 0.2 percent, with Wellington 0.3 percent off and Jakarta 0.1 percent lower.

As investors head into the weekend US president Donald Trump provided a seed of uncertainty with his tweet hitting out at China, just two weeks after meeting its President Xi Jinping and telling the world that trade talks were "back on track".

On currency markets the yen, euro and pound held gains against the US dollar though the greenback clawed back some of its past days' losses against higher-yielding, riskier assets such as the South Korean won and Indonesian rupiah. (AFP)

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