Hong Kong, Shanghai Stocks Rise On Trade Talks

Hong Kong stocks ended the morning with more gains on Monday, extending last week's rally on hopes for China-US trade talks.

The Hang Seng Index added 0.3 percent, to 27,181 by the break.

On the mainland, the Shanghai Composite Index gained 0.7 percent to open at 2,613 while the Shenzhen Composite Index added 0.8 percent to 1,333.

Tokyo ended the morning 0.5 percent higher.

Sydney rose 0.3 percent, Singapore added 0.5 percent and Taipei put on 0.7 percent with Wellington and Jakarta also up.

The news that the mainland's GDP grew at predicted rate provided further support to shares, which were already being buoyed by hopes the China and the US would be able to resolve the tariffs spat, which has hammered world markets for almost a year.

"For now markets are going ahead with the growing perception that there is a lot of willingness by both parties to make a deal," said National Australia Bank senior strategist Rodrigo Catril.

"But as the March 1st deadline approaches the market is also likely to demand more concrete evidence that a deal looks more likely than not." (AFP)

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