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Hong Kong Stocks Rise Ahead of Trump-Xi Meting; SF Intra-city Jumps 11%

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Hong Kong stocks rose Friday on hopes that U.S.-China trade tensions will ease after Chinese President Xi Jinping's meeting with presidents Donald Trump next week.

The Hang Seng Index rose 146.49 points, or 0.6%, to close at 24,750.78, while the Hang Seng China Enterprises Index gained 50.04 points, or also 0.6%, to 8,225.40.

Investors also looked ahead to the second meeting between Trump and Xi this year, scheduled to take place in Washington.

Lower oil prices also supported sentiment. Oil prices fell about 2% for a third straight session, easing concerns over inflation and high borrowing costs despite renewed cross-border strikes involving Saudi Arabia and Iran-backed Houthis.

In corporate developments, Hangzhou SF Intra-city Industrial (HKG:9699) jumped more than 11% after controlling shareholder Celestial Ocean Investments increased its stake in the company through additional share purchases.

Dynam Japan (HKG:6889) rose nearly 2% after selling an Airbus A321-271NX aircraft to a company owned by controlling shareholder Yoji Sato for $65.2 million.

What else is happening in Asia?

Asia

Japan Hotel REIT Investment Secures New Term Loans

Japan Hotel REIT Investment (TYO:8985) has secured a new term loan amounting to 4.9 billion yen, according to a Tokyo bourse filing on Thursday.The unsecured loan has an interest rate of 0.30% on top of a base rate and maturity date of Sept. 28, 2029.Sumitomo Mitsui Banking, Mizuho Bank and MUFG Bank were the lenders.The REIT will use the loan to partially fund the capital expenditures for renovation of Hilton Tokyo Odaiba.In addition, the company undertook two unsecured term loans worth 4.25 billion yen and 700 million yen, respectively, to refinance existing loans due on Sept. 30.Both loans have interest rates of 0.45% on top of a base rate and maturity date of Sept. 30, 2032.Sumitomo Mitsui Banking, Mizuho Bank, SBI Shinsei Bank and Resona Bank were the lenders for the 4.25 billion yen green loan, while MUFG Bank, Aozora Bank and Kansai Bank were the syndicate for the 700 million yen borrowing.

TYO:8985
Asia

Tamawood Declares Dividend

Tamawood (ASX:TWD) declared a dividend of AU$0.105 per share for the six months ended June 30, according to a Friday filing with the Australian bourse.The dividend will be paid on Dec. 11 to shareholders on record as of Nov. 20, per the filing.The company paid the same dividend in the prior corresponding period, an earlier filing showed.

ASX:TWD
Asia

Lefroy Exploration Expands Western Australia Project Scoping Study

Lefroy Exploration (ASX:LEX) said it is actively assessing the opportunity to expand the scoping study for its Mt Martin gold project in Western Australia to incorporate the high-grade portion of the nearby Burns gold deposit, according to a Friday Australian bourse filing.The delivery of the scoping study is now scheduled for the early December quarter, while the review of the Burns deposit high-grade resource is also targeted for completion at the same time, the filing added.At the Lucky Strike project, part of the Lefroy gold project in Western Australia, Miscellaneous License L25/71 has been fully granted following the execution of a Heritage agreement, securing critical haulage and utility corridors, with a heritage survey to be undertaken in mid-October to clear the second dewatering corridor, the company added.

ASX:LEX