Hong Kong Stocks Gain As Asian Markets Bounce Back

Hong Kong stocks rallied on Tuesday morning, extending the previous day's gains after last week's sharp losses as fears of a global trade war eased on news of talks between US and Chinese officials.

The Hang Seng Index climbed 0.9 percent, to 30,826 by the break.

On the mainland, the Shanghai Composite Index rose 1 percent, to 3,164, while the Shenzhen Composite Index also gained 1 percent, to 1,807.

A wave of optimism flowed across Asian markets on Tuesday, tracking a surge on Wall Street, as fears of a US-China trade war receded.

Those strong performances continued in Asia, with Tokyo ending the morning 1.7 percent higher thanks to a drop in the yen against the US dollar as traders shift out of assets considered safe in times of uncertainty and turmoil.

Sydney climbed 0.7 percent, Singapore put on 0.6 percent and Wellington rose 0.9 percent. Taipei, Manila and Jakarta were all more than 1 percent up.

Seoul rose 0.6 percent and the won climbed a similar amount against the US dollar on talk of Kim Jong-un's visit to Beijing, which would be his first outside North Korea since assuming power at the end of 2011.

If confirmed, the visit would mark the latest development in the fast-paced shift towards an easing of tensions on the Korean peninsula. (AFP)

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