HK stocks rise as tech turns muse for regional gains
Technology stocks powered Asian markets higher on Tuesday as lower oil prices lifted sentiment and investors pinned their hopes on US-Iran talks, while the dollar stood tall on bets that more hikes are needed to rein in inflation. In Hong Kong, the benchmark Hang Seng Index opened up 128 points, or 0.51 percent, at 25,170. The tech index rose 44 points, or one percent, to 4,467 while the China enterprises was 33 points, or 0.4 percent, higher at 8,373. On the mainland, the Shanghai Composite Index opened up 13 points, or 0.35 percent, at 3,963. The Shenzhen Component Index put on 128 points, or 0.94 percent, to open at 13,858 while the ChiNext Index surged 46 points, or 1.37 percent, to 3,446. The gains came as attention was also turning to a high-stakes meeting between President Xi Jinping and his US counterpart, Donald Trump, later this week, with investors watching for signs they can prevent a further deterioration in relations. Xi arrives in Washington on Wednesday for the first time in more than a decade amid growing optimism that a trade truce deal between the two nations will be extended and potential cooperation over artificial intelligence. Brent crude futures steadied at US$100.22 per barrel after dropping over...
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