Hong Kong, Shanghai Soar As Trade Talks Resume

Hong Kong stocks rallied in the morning session on Friday, topping off a broadly strong week on a positive note, with investors keeping an eye on the latest round of US-China trade talks.

The Hang Seng Index climbed 0.7 percent, to 28,976 by the break.

On the mainland, the Shanghai Composite Index soared 2.6 percent and Shenzhen Composite Index also jumped 2.6 percent, to 1,682.

Tokyo headed into the morning 1 percent higher. Sydney, Seoul and Singapore each added 0.3 percent, while Wellington put on 0.6 percent. Taipei and Manila were also sharply higher.

Market attention is on Beijing where top Chinese and US negotiators are taking part in their latest batch of talks aimed at ending their long-running trade row that has dragged on the world economy.

"Risk assets are being supported right now, in my view, by a dovish Fed, a China stabilisation and better sentiment around geopolitical risks," Frances Donald at Manulife Asset Management told Bloomberg news.

"That probably gives this rally a little bit more juice."

On currency markets the upbeat mood helped the dollar rise against the safe-haven yen, while the pound was unable to break out of a narrow range as the Brexit saga rumbles on. (AFP)

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