HSI Ends With Gain For The Third Day In A Row

Hong Kong stocks rose for a third straight day on Wednesday, in line with an Asia-wide advance fuelled by optimism as several countries begin to lift strict lockdown measures with the coronavirus showing signs of easing.

The Hang Seng Index added 0.3 percent, to close at 24,643.

Across the border, the Shanghai Composite Index rose 0.4 percent, to 2,822 but the Shenzhen Composite Index lost 0.1 percent, to 1,730.

Most other Asian markets rose again as traders brushed off more data showing the gaping hole being blown in the global economy that is also seeing companies either pull their earnings reports or provide grave forward guidance as demand is battered.

Sydney, Mumbai, Taipei and Manila were all more than 1 percent higher. Singapore ticked 0.1 percent up, while there were also advances in Seoul, Kuala Lumpur, Jakarta and Bangkok.

Wellington, though, was hit by profit-taking following a more than 3 percent surge on Tuesday. Tokyo was closed for a public holiday.

The crude market's rollercoaster ride saw US benchmark WTI surge more than 16 percent at one point, boosted by bargain-buying, though there are few expectations for a sustained recovery with storage facilities close to bursting and demand all but wiped out at the moment. (AFP)