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Win Streak Expected To Continue For China Stock Market

(RTTNews) - The China stock market has ticked higher in two straight sessions, gathering almost a dozen points or 0.4 percent along the way. The Shanghai Composite Index remains just above the 2,905-point plateau and it's expected to open higher again on Wednesday.

The global forecast for the Asian markets suggests mild upside on cautious optimism for a trade deal between the United States and China. The European markets were mixed and flat and the U.S. markets were slightly higher - and the Asian bourses figure to split the difference.

The SCI finished barely higher on Tuesday following mixed performances from the financial shares and oil and insurance companies.

For the day, the index gained 0.89 points or 0.03 percent to finish at 2,907.06 after trading between 2,897.93 and 2,915.04. The Shenzhen Composite Index added 5.19 points or 0.32 percent to end at 1,605.64.

Among the actives, Industrial and Commercial Bank of China collected 0.34 percent, while Bank of China added 0.55 percent, China Merchants Bank skidded 1.59 percent, China Life Insurance climbed 1.39 percent, Ping An Insurance eased 0.12 percent, PetroChina dropped 0.88 percent, China Petroleum and Chemical (Sinopec) rose 0.20 percent, China Shenhua Energy shed 0.79 percent, Gemdale dipped 0.12 percent, Poly Developments lost 0.54 percent, China Vanke sank 1.05 percent, CITIC Securities retreated 0.46 percent, Jiangxi Copper was down 0.78 percent and China Construction Bank was unchanged.
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