HONG KONG (Nikkei Markets) -- Hong Kong shares advanced on Tuesday, as investors' concerns over the possibility of a global trade war eased amid opposition to U.S. President Donald Trump's plan to impose tariffs on steel and aluminum imports.
The Hang Seng Index had added 1.4% to 30,300.96 by the midday break, heading for its first gain in three days. Offshore oil producer CNOOC climbed 4.4%, leading gains on the index in percentage terms, while PetroChina rose 2.9% after U.S. crude prices advanced 2.2% overnight. Tencent Holdings, the most valuable company listed in Hong Kong, also snapped a two-day losing streak to rise 2.8%. The Hong Kong dollar, which is pegged to a range of 7.75 to 7.85 against the U.S. dollar, continued to hover near its weakest level in two decades.
