Today's Edition
SHANGHAI (REUTERS)
Hong Kong stocks rebounded on Friday after three sessions of losses but remained on track for their biggest weekly loss since April, as Sino-US trade talks and Middle East tensions weighed on investor sentiment. Mainland China shares edged higher.
China's blue-chip CSI300 Index climbed 0.2% by the lunch break while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 1.2%.
China kept its benchmark lending rates unchanged, after rolling out sweeping monetary easing measures last month to support the economy.
Amid uncertainties related to China-US trade friction, onshore share valuations may be range-bound at low levels near term, said UBS strategist Lei Meng in a note.
"We expect limited downside, and potential upside catalysts mainly from stronger policy easing, the continual entry of medium or long-term funds and structural reforms," Meng said.
Israel and Iran's conflict entered a second week and fears of a potential US attack on Iran hung over markets in Asia, impacting overall risk sentiment.
The Hang Seng Index was down 1.6% this week, on track for the largest decline since April 7, if losses hold. The CSI300 Index was down 0.3%.
