Hong Kong Gains, Energy Stocks Rise On Trump Move

Hong Kong shares ended higher on Wednesday after fluctuating through the day, with energy firms rallying on the back of a surge in oil prices.

The Hang Seng Index rose 0.4 percent, to close at 30,536.

On the mainland, the Shanghai Composite Index dipped 0.1 percent, to 3,159 while the Shenzhen Composite Index eased 0.1 percent, to 1,834.

Oil prices surged more than 2 percent in Asia after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty.

The hike in oil prices boosted regional energy firms, with CNOOC, PetroChina and Sinopec all up almost two percent in Hong Kong, while Inpex added a similar amount in Tokyo. Sydney-listed Woodside Petroleum and Rio Tinto were also well up.

Despite the energy sector's gains, Asian equity markets fluctuated through the day and struggled to keep track.

Tokyo ended 0.4 percent lower.

Singapore added 0.2 percent, Seoul was down 0.2 percent while Sydney was 0.3 percent higher. Manila and Bangkok fell but Jakarta, Wellington and Taipei were in positive territory. (AFP)