Hong Kong Extends Rally, Mainland Markets Slip

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2018-06-07 HKT 16:48

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  • Investors were encouraged by an overnight rally on Wall Street. File photo: RTHK

    Investors were encouraged by an overnight rally on Wall Street. File photo: RTHK

Hong Kong stocks clocked up a sixth successive gain on Thursday as investors tracked a rally on Wall Street, while looking ahead to the weekend's Group of Seven summit.

The Hang Seng Index rose 0.8 percent, to 31,512.

On the mainland, Shanghai Composite Index edged down 0.2 percent, to 3,109 and the Shenzhen Composite Index dropped 0.6 percent, to 1,767.

Most other Asian markets built on their latest rally, with fresh upbeat US data reinforcing optimism in the global outlook, overshadowing simmering trade concerns.

Tokyo's benchmark Nikkei index rose for the fourth consecutive session, supported by a weak yen. The Nikkei 225 index gained 0.9 percent, to close at 22,823.

Sydney was 0.8 percent higher and Seoul put on 0.7 percent. Taipei, Wellington, Manila and Jakarta were also higher while Singapore was marginally lower.

The euro also continued its recovery from last week's Italy-fuelled plunge, with the European Central Bank's top economist saying it would discuss winding down its crisis-era stimulus.

The euro – which dallied with US$1.15 last week – briefly climbed past US$1.18 on Wednesday before easing back, but it held up in Asia. (AFP)


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