HONG KONG (Nikkei Markets) -- Hong Kong shares rose for a third straight day on Tuesday, helped by weakness in the U.S. dollar and lingering hopes that Sino-American talks this week will be a step toward easing trade tensions that have occupied investor minds for several months.

The Hang Seng Index advanced 0.6% to 27,752.79. CSPC Pharmaceutical Group surged 9.9%, leading percentage gains on the gauge and extending Monday's 1.1% advance. The drugmaker reported a 41% increase in first half profit and a 50% jump in revenue during Monday's midday break.

China Galaxy International said it expects oncology drugs to be the company's next growth driver. Sunny Optical Technology Group jumped 8.8%. The smartphone components maker on Monday said it bought back 150,300 shares.

Investors are awaiting talks between American and Chinese officials this week, with U.S. tariffs on $16 billion of Chinese goods set to take effect on Thursday. China has said it will retaliate with reciprocal tariffs. Mainland officials led by Vice Commerce Minister Wang Shouwen will be meeting with a U.S. team led by Treasury Under Secretary David Malpass in Washington over Wednesday and Thursday.

The day's gains came even as President Donald Trump said in an interview with Reuters that he does not expect much progress from the talks, and that he has "no time frame" for ending the trade dispute with China.

"People are hopeful for the trade talks between the U.S. and China mid-level officials this week," said Paul Pong, managing director at Pegasus Fund Manager. "It is normal to have low-level officials negotiate the details first and then submit for top-level approval."

He said the Hang Seng Index is unlikely to break beyond 29,000.

Most other Asian equity benchmarks also climbed while regional currencies advanced against the dollar on Tuesday. The dollar index, which measures the greenback against a basket of major global currencies, fell 0.3%.

Trump said in the interview that he is "not thrilled" with the U.S. Federal Reserve for raising interest rates, according to Reuters. The U.S. central bank is widely expected to lift borrowing costs for a third time this year at a policy review in September.

In the mainland, the Shanghai Composite advanced 1.3% while the onshore traded yuan rose 0.2% against the dollar, setting course for a fourth day higher.

Several Chinese property developers jumped on their interim earnings reports.

Mainland property developer China Vanke added 3.6% after reporting a 25% increase in first-half net profit to 9.12 billion yuan ($1.33 billion) and a 55.2% jump in revenue to 104.86 billion yuan.

Country Garden Holdings jumped 7.9% after the developer reported a 72.5% increase in first-half net profit during the midday break on Tuesday, led by higher sale prices.

China Resources Land climbed 4.4% after saying its half-yearly net profit nearly doubled from a year earlier.

Longfor Group Holdings, which posted a 23.3% increase in net profit for the six months ended June 30, advanced 5.2%.

Fuyao Glass Industry Group jumped 7.4% following a 34.8% increase in first-half net profit on a 15.7% higher revenue.

China Datang Corp. Renewable Power advanced 4.5%. The power generation company on Monday reported a more than doubling of its profit for the six months ended in June and a 26% increase in revenue.

WuXi Biologics climbed 9.1% after first-half net profit nearly tripled and its revenue increased 61.2%. Chief Executive Officer Chris Chen said at a news conference on Tuesday that the biopharmaceutical company expects its annual profit to grow by at least 60% as it takes drug molecules further in their developmental cycle.

China MeiDong Auto Holdings soared 28.6%, following a 46.1% increase in first-half net profit. The auto dealer said its unit agreed to acquire certain assets of six BMW sales-and-service outlets in Anhui province for an undisclosed sum.

Minsheng Education Group surged 34.5% after saying a unit agreed to acquire a 51% stake in Leed International Education Group, which owns Dianchi College in Kunming city of Yunnan Province, for 582.5 million yuan.

Metals miner MMG rose 10.3% after saying profit for the six months ended June 30 climbed 70%.

3SBio slumped 6.6% despite reporting a 30.9% increase in net profit for the six months ended June 30 and a 27.4% increase in revenue. Nomura said in a report that its revenue missed forecasts by 12%.

China State Construction International declined 7.3% after it posted a 1.2% growth in half-yearly net profit. Its first-half revenue rose 18% from a year ago.

-- Amy Lam