HSI Jumps As China, US Edge Towards Deal

Hong Kong stocks rallied more than 1 percent in the morning session on Monday, with traders welcoming news that China and the United States had pulled back from the brink of a trade war.

The Hang Seng Index rose 1.3 percent, to 31,439.

On the mainland, the benchmark Shanghai Composite Index edged up 0.8 percent, to 3,217, while the Shenzhen Composite Index climbed 1.1 percent, to 1,849.

After high-level talks in Washington the two economic superpowers revealed a deal had been hammered out, ending months of tension that have sent financial markets into a frenzy.

Tokyo jumped 0.5 percent by the break as the weaker yen helped Japanese exporters.

Sydney rose 0.1 percent, Singapore added almost one percent and Seoul gained 0.2 percent, while Taipei rallied 1.3 percent.

The positive news also lifted the dollar, which had faced some selling pressure after Donald Trump earlier in the year imposed tariffs on steel and aluminium imports. (AFP)

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