Hong Kong Stocks Up, Asian Markets Mixed

Hong Kong stocks ended on Monday morning in positive territory but gains were tempered after a Group of Seven meeting highlighted divisions between the US and its allies, while dealers are also awaiting Donald Trump's summit with Kim Jong-un.

The Hang Seng Index added 0.3 percent, to 31,055.

On the mainland, the Shanghai Composite Index gave up 0.6 percent to 3,047 as the market returned after lunch break, while the Shenzhen Composite Index eased 0.4 percent to 1,744.

Tokyo ended the morning session 0.3 percent up and Seoul also gained 0.3 percent. Singapore was slightly lower, while Wellington, Taipei and Manila were also down.

Sydney was closed for a public holiday.

All eyes are now on Singapore, with the leaders of North Korea and the United States due to meet for the first time in history, with Pyongyang's nuclear programme top of the agenda.

Tai Hui, JP Morgan Asset Management chief market strategist for Asia-Pacific, said in a note: "Although the... summit in Singapore is capturing public attention, the direct impact on markets is likely to be limited."

"Ongoing dialogue between Washington and Pyongyang is positive, since this implies military action is on hold, limiting any economic implication for South Korea and surrounding region. Investors will hope to see steady progress with opportunities for more discussion in coming months." (AFP)

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