Hong Kong Shares Lose Early Momentum, Kospi Gains

Hong Kong stocks ended the morning session in positive territory on Friday as energy firms were lifted by further gains in oil prices, though the benchmark index was off its earlier highs.

The Hang Seng Index was up 0.1 percent, to 30,031 by the break.

On the mainland, the Shanghai Composite Index slipped 0.7 percent, to to 3,052, while the Shenzhen Composite Index lost 0.2 percent, to 1,767.

Seoul's Kospi was among the best performers in the morning and the won strengthened as the leaders of North and South Korea began a historic summit, while other Asian markets also enjoyed gains following a US rally.

With hopes for a positive outcome from the meeting – the first between the countries' two leaders since 2007 – Seoul stocks rose 0.6 percent in early trade, while the won climbed 0.3 percent against the dollar.

Tokyo gained 0.4 percent by the break, while Sydney climbed 0.4 percent and Singapore was 0.2 percent up.

Technology firms enjoyed a much-needed lift after Facebook posted a 63 percent rise in first-quarter profit, undented by a consumer data scandal. (AFP)

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