Hang Seng and Asian indices ended higher on improved sentiment over the trade negotiations between officials from China and the USA in Washington. The Shanghai Composite ended 1.15% higher at 3,007, while the Singapore Straits Times is 0.25% higher at 3,121. Aussie stocks also finished higher; the ASX 200 ended 0.54% at 6,642.
The Hang Seng index finished 0.76% higher at 26,509 as President Donald Trump announced a partial trade deal, reaching agreement on intellectual property, financial services and big agricultural purchases.
The Hang Seng index ended on positive foot for third day in a row at monthly highs, keeping the positive momentum as the index holds above the 50-day moving average that breached last Friday. The index started a rebound from seven-week lows last Thursday boosted by positive trade talks news. On the upside resistance for the Hang Seng stands at 26,636 today’s high, a break above, will set the stage for a move up to 27,069 the 100-day moving average.