Hong Kong stocks hit 5-week high

Hong Kong stocks hit a five-week closing high on Tuesday, buoyed by optimism over the Sino-US interim trade deal and Wall Street's rally to record highs. Hong Kong's benchmark Hang Seng Index closed up 1.2% at 27,843.71 points. The China Enterprises Index gained 1.7% to 10,964.99 points.

The sub-index of the Hang Seng tracking energy shares ended 1.9% firmer, while the IT sector closed 2.34% higher, the financial sector ended 1.28% higher and the property sector closed 0.3% weaker.

The top gainer in the Hang Seng was CSPC Pharmaceutical Group Ltd, which closed 4.2% firmer, while the biggest loser was China Resources Land Ltd, which ended 2.49% lower.

The preliminary deal between Washington and Beijing will double US exports to China, White House adviser Larry Kudlow told Fox News on Monday. The United States will also reduce some tariffs on Chinese goods under the agreement.