HSI Soars On Kudlow Remarks, Peaceful Protests

Hong Kong shares jumped more than 2 percent on Monday following a weekend of protests that was devoid of clashes with investors cheered by positive comments on trade talks by Donald Trump's top trade adviser.

The Hang Seng Index climbed 2.2 percent, to end at 26,291.

On the mainland, the Shanghai Composite Index gained 2.1 percent, to 2,883 and the Shenzhen Composite Index rallied 3.1 percent, to 1,571.

Tokyo added 0.7 percent. Sydney climbed 1 percent, Singapore put on 0.6 percent and Seoul jumped 0.7 percent while Wellington ,Taipei and Jakarta also made significant gains.

Trump's top economic adviser Larry Kudlow provided a boost for the markets when he said that high-level phone talks to solve trade spats between China and the US were "a lot more positive than has been reported".

Kudlow also raised the prospect of using cash taken from higher tariffs on Chinese goods to pay for tax cuts.

"This sort of recycling won't clear the oceans of plastic or reduce global warming, but it is an elegant solution to reducing the pain of tariffs on the American consumer of China and may give equity markets a small boost as we start the week," said Jeffrey Halley, senior market analyst for Asia-Pacific at Oanda. (AFP)