Local Stocks Close Marginally Higher

Hong Kong stocks closed marginally higher on Tuesday following a record lead from Wall Street, but investors remain cautious owing to China-US tensions and the lack of progress on a new US stimulus.

The Hang Seng Index edged up 0.1 percent, or 20 points, to 25,367.

The benchmark Shanghai Composite Index added 0.4 percent, or 12 points, to 3,451, while the Shenzhen Composite Index on the mainland's second exchange rose 0.5 percent, or 11 points, to 2,298.

Stocks across the region drifted, swinging in and out of positive territory through the day, as traders struggling to build on the previous day's broad advance.

Tokyo dropped 0.2 percent, while Singapore retreated 0.4 percent and Taipei gave up 0.7 percent.

Seoul tumbled more than two percent as South Korea saw a surge in new virus infections, having managed to control it for months.

Mumbai rose, while Wellington jumped more than one percent again after the government delayed New Zealand's general election by four weeks owing to a new virus flare-up.

Manila was also up more than one percent as a lockdown in the capital is eased, while there were also gains in Bangkok and Jakarta.

Sydney rose despite China launching a probe of Australia's wine exports to investigate dumping – when a country sells goods in a country for less than it costs at home – throughout 2019, at the request of the Wine Industry Association of China. (AFP)