Hong Kong Stocks Rebound; HSBC Rises

MT Newswires Live05-19 16:55

Hong Kong shares rebounded on Tuesday as investors followed updates in the Middle East and Russian President Vladimir Putin's visit to China.

The Hang Seng Index rose by 122.67 points, or 0.5%, to end at 25,797.85. The Hang Seng China Enterprises Index increased by 93.06 points, or 0.5%, to 8,639.96.

U.S. President Donald Trump said that there was now a "very good chance" of reaching a nuclear deal with Iran as Tehran sent a peace proposal to Washington, sending oil prices lower, Reuters reported.

Meanwhile, Putin will be in China from Tuesday to Wednesday for talks with Xi Jinping on economic cooperation and regional issues. Presidential aide Yuri Ushakov stated the trip is unrelated to Trump, Associated Press reported.

In corporate news, shares of HSBC (HKG:0005) closed nearly 2% higher after the lender issued $1.50 billion of 6.750% perpetual convertible securities.

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