Hong Kong Stocks Post Fresh Gains

Hong Kong shares closed with healthy gains Wednesday, with airlines boosted by a report saying transfer flights through the city to mainland China could resume soon.

The Hang Seng Index added 1.4 percent, or 353 points, to 25,244.

The benchmark Shanghai Composite Index eased 0.6 percent, or 21 points, to 3,319, while the Shenzhen Composite Index on China's second exchange lost 1.3 percent, or 28 points, to 2,215.

Markets elsewhere in Asia were mixed, with worries that US lawmakers might not agree to a fresh stimulus deal any time soon playing up against optimism about upcoming US-China trade talks.

Both nations are due this weekend to meet to review their much-vaunted trade pact, which had been a cause for concern among investors owing to ongoing tensions between the superpowers.

But President Donald Trump's top economic adviser eased concerns Tuesday by saying the pact was "fine right now".

Larry Kudlow told reporters that despite the tensions, "one area we are engaging is trade".

He added that Beijing had promised to stick to its promises on the January trade deal and there was evidence it was increasing purchases.

However, optimism that US lawmakers will thrash out a new stimulus package to accompany Federal Reserve's ultra-loose monetary policy is waning.

Tokyo gained 0.4 percent, while Seoul added 0.6 percent and Singapore put on 0.5 percent. Manila and Jakarta each rose 0.7 percent. But Sydney, Taipei and Mumbai were closed lower.

Wellington dropped more than one percent after a three-day lockdown was announced for Auckland, New Zealand's biggest city with a population of 1.5 million, after four people tested positive, ending a 102-day run that had fanned hopes the disease had been contained. (AFP)