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Hong Kong stocks gain, Tokyo market soars

2019-02-12 HKT 17:40
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  • The markets on the mainland continued to chalk up healthy gains. Photo: AFP
    The markets on the mainland continued to chalk up healthy gains. Photo: AFP
Hong Kong stocks edged up Tuesday as investors pinned hopes on US-China trade talks and a tentative deal to avert a Washington shutdown.

The Hang Seng Index gained 0.1 percent, to 28,171.

On the mainland, the Shanghai Composite Index closed 0.7 percent higher, to close at 2,671, while the Shenzhen Composite Index added 1.2 percent, to 1,364.

Tokyo – returning from Monday's public holiday – leapt 2.6 percent, as Japanese exporters further benefited from a resurgent US dollar, which left the yen at its weakest level since the start of 2019.

Sydney, Seoul and Taipei also rose.

The US dollar has returned to early January heights, on the currency's longest unbroken rally in three years – despite the Fed recently changing course on interest rate hikes.

Investors have turned to the greenback as concern has built over poor growth forecasts and the health of other currencies in Europe and beyond.

The British pound clawed back some losses after dropping sharply Monday on dismal monthly GDP and manufacturing data, but the euro remained largely unchanged against the US dollar. (AFP)