HSI Jumps On Trump Comments On Trade Talks

Hong Kong stocks rallied more than 2 percent on Friday, fuelled by hopes for the China-US trade talks after Donald Trump hailed a positive first day.

The Hang Seng index climbed 2.2 percent, over 560 points, to 26,271.

On the mainland, the Shanghai Composite Index rose 0.4 per cent to 2,960 while the Shenzhen Composite Index added 0.2 per cent to 1635.

Asian markets rallied Friday on signs of progress in the China-US trade talks, with Donald Trump saying they were "going very well", while the pound held gains after the leaders of Britain and Ireland indicated a potential breakthrough in Brexit talks.

Tokyo heading into the break 1 percent higher.

"The fog of trade war is beginning to lift, giving way to an air of trade optimism sweeping through global capital markets," said Stephen Innes, Asia-Pacific market strategist at AxiTrader.

"Investors are starting to believe there is light at the end of the... tunnel as hope springs eternal."

The pound surged 2 percent against the US dollar on Thursday and also rallied on the euro, and in early Asian trade managed to hold its ground. (AFP)

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