Hong Kong Stocks Gain Despite Market Gloom

Hong Kong stocks reversed early losses to end on Tuesday in positive territory but investors remain cautious ahead of a key Federal Reserve policy meeting later in the week.

The Hang Seng Index gained 0.1 percent, to end at 31,549.

On the mainland, the Shanghai Composite Index climbed 0.4 percent, to 3,290 while the Shenzhen Composite Index added 0.2 percent, to 1,872.

News of a massive data breach at Facebook fuelled fears of a regulatory crackdown on the technology sector, sparking plunges in New York overnight on Monday.

The US losses filtered through to Asia in early trade but tech firms in the region bounced back as the day wore on. Hong Kong-listed internet giant Tencent and AAC Technologies moved into positive territory, as did Samsung in Seoul. However, while Sony pared losses in Tokyo it ended lower.

Japan's Nikkei dipped 0.5 percent and Sydney slipped 0.4 percent.

Singapore was 0.2 percent higher and Seoul climbed 0.4 percent. Wellington, Manila, Taipei and Jakarta were all down.

On currency markets the pound extended gains against the dollar after Britain and European Union leaders agreed a post-Brexit transition deal that will buy businesses and citizens time to adjust to life after the divorce. (AFP)