HSI Edges Up As Trump Remarks Lift Asian Stocks

Optimism over progress in the China-US trade talks boosted Hong Kong stocks on Tuesday morning, helping them track a healthy lead from Wall Street.

The Hang Seng index added 0.2 percent, to 26,765.

On the mainland, the Shanghai Composite Index was down 0.5 percent, to 2,938 while the Shenzhen Composite Index was up 0.2 percent, to 1,617.

Japan's markets are closed for a public holiday.

Sydney rose 0.2 percent, Singapore put on 0.8 percent and Seoul rallied 0.9 percent. Wellington, Taipei, Manila and Jakarta were also higher.

The market optimism came after US President Donald Trump hinted of progress in developing the text of a partial trade pact with China that he aims to sign next month.

"Unlike previous trade talks where expectations centred on the view that something is better than nothing, this time around there appears to be a tangible and workable roadmap in place," said AxiTrader senior market analyst Stephen Innes.

Traders are also keeping watch on events in London, where Boris Johnson will try on Tuesday to push his Brexit deal with the EU through parliament before next Thursday's deadline.

Sterling rallied on Monday to US$1.3013 – its highest since May – but ticked back after House of Commons Speaker John Bercow refused the prime minister's request to put his bill to MPs. In the local market, the sterling held on and was trading at HK$10.18. (AFP)

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