HSI Stays Upbeat, But Mainland Markets Lose Steam
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2019-02-21 HKT 16:37
Hong Kong stocks extended gains on Thursday as hopes for China-US trade talks were boosted by a report the two sides were working on an outline for a plan to resolve the dispute.
The Hang Seng Index rose 0.4 percent, to 28,629.
On the mainland, the stcok markets gave up their substantial gains made earlier in the day to end in red. The Shanghai Composite Index slipped 0.3 percent, to close at 2,751 while the Shenzhen Composite Index lost 0.3 percent, to end at 1,444.
In Japan, stocks shed earlier losses to end marginally higher. The benchmark Nikkei 225 index added 0.2 percent, to 21,464.
Sydney rose 0.7 percent, Wellington added 0.6 percent and Taipei 0.5 percent. There were also gains in Mumbai, Bangkok and Jakarta, while Singapore was flat though Seoul and Manila dipped.
On currency markets, the pound extended Wednesday's losses that came after Fitch warned it could slash Britain's credit rating owing to the economic hit from a potential no-deal Brexit.
Adding to sterling's weakness was Prime Minister Theresa May's failure to get a breakthrough in talks with European Commission President Jean-Claude Juncker on revising their Brexit deal. (AFP)
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