Hong Kong Stocks close with small gains

The Hong Kong stock market finished session marginal higher on Tuesday, 20 October 2020, as traders keep tabs on US stimulus talks with a deadline for an agreement set for later in the day. However, market gains capped on fears of an onerous global economic recovery after surging COVID-19 cases in Europe raised the possibility of further restrictions.

At closing bell, the benchmark Hang Seng Index added 0.11%, or 27.28 points, to 24,569.54. The Hang Seng China Enterprises Index rose 0.1%, or 10.17 points, to 9,988.33.

Overnight, Wall Street's main indexes closed lower as US lawmakers still appeared to struggle to reach an agreement on the coronavirus stimulus. U.S. House Speaker said she hoped that by the end of Tuesday there will be "clarity" on whether a coronavirus stimulus bill can be passed before the Nov. 3 presidential election.

 

Italy approved the shutting of public squares from 9 p.m. and many regions in Spain tightened curbs as COVID-19 cases spiked. Meanwhile, in Britain the government scientific adviser said the country needs to impose a three-week period of national lockdown.

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