Hong Kong Bourse Overdue For Profit Taking On Thursday

(RTTNews) - The Hong Kong stock market has climbed higher in six straight sessions, spiking more than 1,340 points or 5.3 percent in that span. The Hang Seng Index now rests just beneath the 27,700-point plateau although investors figure to lock in gains on Thursday.

The global forecast for the Asian markets is fraught with uncertainty after Trump supporters stormed the U.S. Capitol. Markets were mostly higher before this attack but now are likely to open lower.

The Hang Seng finished modestly higher on Wednesday following gains from the property and oil stocks, while the casinos were soft and the financials and insurance companies were mixed.

For the day, the index climbed 42.44 points or 0.19 percent to finish at 27,692.30 after trading between 27,389.78 and 27,756.43.

Among the actives, Meituan surged 4.52 percent, while CNOOC soared 4.25 percent, Xiaomi Corporation plummeted 3.97 percent, WuXi Biologics plunged 3.83 percent, AIA Group tanked 3.65 percent, Alibaba spiked 3.14 percent, China Petroleum and Chemical (Sinopec) accelerated 3.12 percent, CSPC Pharmaceutical rallied 2.91 percent, ANTA Sports jumped 2.63 percent, CITIC climbed 2.15 percent, AAC technologies gathered 1.77 percent, Power Assets tumbled 1.64 percent, China Mengniu Dairy perked 1.36 percent, Sands China skidded 1.32 percent, BOC Hong Kong retreated 1.23 percent, China Life Insurance advanced 1.18 percent, Hong Kong & China Gas sank 1.18 percent, China Resources Land dropped 0.97 percent, Techtronic Industries shed 0.78 percent, Galaxy Entertainment and CK Infrastructure both shed 0.58 percent, New World Development lost 0.54 percent, Industrial and Commercial Bank of China collected 0.21 percent, Ping An Insurance eased 0.16 percent and Sun Hung Kai Properties was unchanged.
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