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Nikkei Markets

Hong Kong stocks move sideways as trade optimism lingers

Sunac drops after share placement, while WuXi slides as shareholder trims stake

HONG KONG (Nikkei Markets) -- Hong Kong equities wavered between gains and losses in the morning session on Friday, with investors looking ahead to a formal Sino-American trade deal expected to be signed next week amid growing confidence that geopolitical tensions in the Middle-East will not escalate.

The 50-stock Hang Seng Index gained less than 0.1% to 28,576.92 by noon, after changing directions a few times and dropping as low as 28,504.27 earlier in the day. Internet services major Tencent Holdings climbed 1.8% and casino operator Galaxy Entertainment Group added 1.8%. Sunny Optical Technology Group advanced 1.4% after the smartphone components maker released December data, which showed its volume shipments of handset lens surged almost 68% from a year earlier.

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