HONG KONG: Hong Kong shares reversed early losses to end more than 1.5% higher on Tuesday after President Donald Trump clarified that the US-China trade deal was still in force, calming investors spooked by comments from a trade adviser.
At the close of trade, the Hang Seng index was up 396.00 points or 1.62% at 24,907.34. The Hang Seng China Enterprises index rose 1.16% to 9,993.48.
The sub-index of the Hang Seng tracking energy shares rose 0.3%. The financial sector ended 1.47% higher and the property sector rose 0.25%.
The IT sector rose 4.04% boosted by Tencent Holdings Ltd, which jumped 4.89% and closed just short of an all-time high.
Tencent was the top gainer on the Hang Seng, while the biggest loser was Link Real Estate Investment Trust, down 1.39%. White House trade adviser Peter Navarro said on Fox News that the trade deal between Washington and Beijing was "over" pushing the Hang Seng index down as much as 1.33% in early trade.
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