HSI Stays In Black, Mainland Markets Continue Rally

Hong Kong stocks went into the break with small gains on Tuesday as traders took a breather following a four-day rally as investors kept an eye on reports of a second wave of Covid-19 cases.

The Hang Seng Index edged up 0.1 percent, to 26,371.

On the mainland, the Shanghai Composite Index gained another 1.3 percent, to 3,376 while the Shenzhen Composite Index climbed 2.5 percent,. to 2,174.

Other Asian markets were mixed with Sydney edging up 0.1 percent, while Wellington and Jakarta each put on 0.3 percent.

But Tokyo, Seoul, Taipei and Manila were in negative territory.

"China's army of retail investors seem to be perfectly able to look through the worrying Western media headlines of another global coronavirus record," said AxiCorp's Stephen Innes.

"Instead, they are listening to the enthusiastic chorus from the nation's influential state media, which are universally singing bullish from the same song page."

He cited reports saying there had been a recent surge in new brokerage account openings. (AFP)

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