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China Stock Market Tipped To Open In The Green

(RTTNews) - The China stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had gathered almost 15 points or 0.4 percent. The Shanghai Composite Index now rests just beneath the 3,600-point plateau and it's likely to see additional support on Wednesday.

The global forecast for the Asian markets is upbeat on easing virus concerns, supported by tech and oil stocks. The European and U.S. markets were sharply higher and the Asian markets are tipped to open in similar fashion.

The SCI finished slightly higher on Tuesday following gains from the financial shares, properties and resource stocks.

For the day, the index rose 5.78 points or 0.16 percent to finish at 3,595.09 after trading between 3,572.57 and 3,614.22. The Shenzhen Composite Index shed 18.01 points or 0.72 percent to end at 2,477.49.

Among the actives, Industrial and Commercial Bank of China collected 0.65 percent, while Bank of China rose 0.33 percent, China Construction Bank gained 0.68 percent, China Merchants Bank was up 0.04 percent, Bank of Communications added 0.43 percent, China Life Insurance climbed 1.22 percent, Jiangxi Copper improved 0.61 percent, Aluminum Corp of China (Chalco) surged 6.07 percent, Yanzhou Coal perked 0.16 percent, PetroChina jumped 1.43 percent, China Petroleum and Chemical (Sinopec) increased 1.20 percent, Huaneng Power soared 5.99 percent, China Shenhua Energy slid 0.50 percent, Gemdale spiked 3.40 percent, Poly Developments sank 1.06 percent, China Vanke accelerated 2.31 percent and Beijing Capital Development rallied 2.87 percent.
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