Stocks in Hong Kong rose on reports that the Shenzhen-Hong Kong exchange trading link, which could channel cash into Hong Kong stocks, will be started soon. Earlier, Australia’s S&P/ASX 200 shed 0.6% as oil prices fell, while the Shanghai Composite Index lost 0.5%. Major U.S. stock indexes were on track to set records again Thursday as oil prices climbed and earnings reports from U.S. retailers weren’t as weak as feared. Oil prices have been under pressure because of the global glut in crude, but on Thursday the International Energy Agency said its balances showed “essentially no oversupply during the second half of the year.”The flip in oil prices helped turned London’s FTSE 100 Index from losses to gains of 0.7%. The S&P 500 gained 0.5% and was on course to top its Aug. 5 record of 2182.87.

Source: Wall Street Journal August 11, 2016 07:57 UTC