We’re not out of the woods yet. On Thursday, Hong Kong stocks posted their biggest gain in four weeks, and the Chinese market rose too, on a growing global consensus that Iran and the United States might to not engage in a full-blown war. But the return of an appetite for risk will be tested by news that Tehran might have shot down a Ukrainian jetliner with 176 people on board leaving its own international airport. Closer to home, the phase one deal between Beijing and Washington will continue to influence proceedings. There is also the possibility that Beijing will reveal the December number for new lending and aggregate financing on Friday. US payrolls data is also expected on Friday. As of now, stocks in Hong Kong and mainland China re expected to open higher, especially after the S&P 500 rose to a fresh record overnight. If you would like the Live Stocks Blog emailed to you each morning, click here . – Zhang Shidong in Shanghai and Azar Zaidi in Hong Kong Note: Information in this blog is on an "as is" basis and not a solicitation or offer to buy or sell any securities or otherwise; and is not investment/professional advice or services in this regard. It is subject to our T&C. SCMP (as defined in T&C ) shall not be liable for any loss, damage and costs relating to any investments in securities or otherwise in this connection.