HSI Up As Asian Investors Cheer Trump-Kim Summit

Hong Kong shares ended higher on Tuesday following a historic summit between Donald Trump and Kim Jong-un, while the focus now turns to key policy meetings at the Federal Reserve and European Central Bank.

The Hang Seng Index rose 0.1 percent, to close at 31,103.

On the mainland, the Shanghai Composite Index closed 0.9 percent higher, at 3,079 while the Shenzhen Composite Index rose slightly over 1 percent, to 1,759.

Most other Asian markets after the Singapore summit, while investors look ahead to key policy meetings at the Federal Reserve and European Central Bank this week.

Tokyo stocks gained as investors largely welcomed the news of the Trump_kim meeting. The benchmark Nikkei 225 index rose 0.3 percent to close at 22,878.

However, Seoul dipped 0.1 percent, while the Korean won eased 0.2 percent. Singapore was slightly lower, as were Wellington, Kuala Lumpur and Taipei.

While the Singapore meeting was not expected to see any immediate results, it has provided hope for peace on the Korean peninsula.

However, investors remain concerned about a possible global trade war after the weekend's Group of Seven summit in Canada ended with Trump withdrawing support for a joint communique and accusing host Prime Minister Justin Trudeau of being dishonest.

The euro extended gains after rallying Monday on the back of comments from new Italian Finance Minister Giovanni Tria ruling out Rome's exit from the single currency. That eased concerns about his populist, Eurosceptic government's intentions regarding the currency bloc.

The pound was also under pressure as British MPs prepare to vote on a string of amendments to key Brexit legislation that could force Prime Minister Theresa May's hand in talks with the European Union. (AFP)