Hong Kong Shares Predicted To Open In The Green

(RTTNews) - The Hong Kong stock market had alternated between positive and negative finishes through the last 11 trading days since the end of the six-day losing streak in which it had tumbled almost 1,140 points or 3.9 percent. The Hang Seng Index now rests just above the 25,700-point plateau and it's called higher again on Friday.

The global forecast for the Asian markets is upbeat on optimism for a trade deal between the United States and China. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished slightly higher on Thursday as gains from the financials and casinos were offset by weakness from the properties.

For the day, the index rose 25.12 points or 0.10 percent to finish at 25,707.93 after trading between 25,521.95 and 25,809.58.

Among the actives, AAC Technologies skyrocketed 6.32 percent, while WH Group surged 3.97 percent, China Mengniu Dairy soared 2.31 percent, CSPC Pharmaceutical spiked 1.79 percent, Galaxy Entertainment jumped 1.58 percent, Henderson Land plunged 1.50 percent, Sands China climbed 1.31 percent, AIA Group tumbled 1.10 percent, BOC Hong Kong skidded 0.79 percent, Industrial and Commercial Bank of China collected 0.76 percent, Ping An Insurance advanced 0.61 percent, New World Development dropped 0.59 percent, Hong Kong & China Gas sank 0.53 percent, China Life Insurance added 0.45 percent, CNOOC gained 0.35 percent, CITIC lost 0.30 percent, Tencent Holdings rose 0.19 percent, China Mobile was up 0.15 percent and CLP Holdings, Sino Land and China Petroleum and Chemical (Sinopec) were unchanged.

The lead from Wall Street is positive as traders intensely focused on the latest developments surrounding the highly anticipated U.S.-China trade talks, sending markets significantly higher.

The Dow added 150.66 points or 0.57 percent to 26,496.67, while the NASDAQ gained 47.04 points or 0.60 percent to 7,950.78 and the S&P 500 rose 18.73 points or 0.64 percent to 2,938.13.

Buying interest emerged on Wall Street after President Donald Trump revealed he plans to meet with Chinese Vice Premier Liu He as part of high-level U.S.-China trade talks. Traders will remain focused on the highly anticipated negotiations and any signs of progress or lack thereof.

In economic news, the Labor Department said U.S. consumer prices were essentially flat in September and that there was a modest decrease in first-time claims for U.S. unemployment benefits last week.

Crude oil prices moved higher Thursday as OPEC said that it has all options in place to balance oil markets and that it would make a decision in December about supply. West Texas Intermediate Crude oil futures for November ended up $0.96 or 1.8 percent at $53.55 a barrel, the highest settlement since October 1.
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