HSI gains as Trump tweets provide solace - RTHK
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HSI gains as Trump tweets provide solace

2019-05-15 HKT 10:02
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  • Investors took heart from Donald Trump's positive comments. File photo: RTHK
    Investors took heart from Donald Trump's positive comments. File photo: RTHK
Hong Kong stocks rallied in the morning session on Wednesday as investors took heart from Donald Trump's positive comments on China-US trade talks, though investors continued to fret over uncertainty.

In a series of tweets overnight on Tuesday the US president gave markets some hope that a deal between the economic titans will eventually be struck with his Chinese counterpart Xi Jinping.

"When the time is right we will make a deal with China", he wrote, adding that his "respect and friendship with President Xi is unlimited".

This helped the Hang Seng Index rise 0.7 percent, to 28,326 by midday break.

On the mainland, the Shanghai Composite Index added 1.1 percent, to 2,915, while the Shenzhen Composite Index gained 1.4 percent, to 1,563.

Seoul added 0.6 percent, while Taipei, Wellington, Manila and Jakarta were also well in positive territory. Seoul was barely moved.

However, Tokyo went into the break 0.8 percent lower.

"It's just too early to tell if this is a buy [on equity markets], on slightly oversold conditions, or if it's the start of stabilisation," Gina Martin Adams, chief equity strategist at Bloomberg Intelligence, told Bloomberg TV.

"Our working thesis is that we're going to be in for a period of volatility for most of the next month as we await the G20 meeting." (AFP)

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Last updated: 2019-05-15 HKT 12:57