Hong Kong Stock Market Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in four straight sessions, collecting more than 560 points or 2.2 percent in that span. The Hang Seng Index now sits just above the 25,800-point plateau and it may see additional support on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The Hang Seng finished modestly higher on Monday following gains from the financial shares and mixed performances from the properties and technology stocks. For the day, the index climbed 111.24 points or 0.43 percent to finish at 25,801.77 after trading between 25,671.33 and 25,859.61. Among the actives, Alibaba Group advanced 0.76 percent, while Alibaba Health Info vaulted 0.96 percent, ANTA Sports and Li Auto both jumped 0.92 percent, China Life Insurance tumbled 1.11 percent, China Mengniu Dairy eased 0.07 percent, China Resources Land added 0.73 percent, CITIC fell 0.08 percent, CNOOC surged 2.06 percent, CSPC Pharmaceutical rose 0.61 percent, Galaxy Entertainment gained 0.62 percent, Haier Smart Home stumbled 1.45 percent, Hang Lung Properties plunged 2.23 percent, Henderson Land shed 0.20 percent, Hong Kong & China Gas sank 0.56 percent, Industrial and Commercial Bank of China collected 0.16 percent, JD.com climbed 0.90 percent, Lenovo lost 0.11 percent, Li Ning spiked 1.00 percent, Meituan perked 0.10 percent, New World Development dropped 0.94 percent, Nongfu Spring soared 1.39 percent, Techtronic Industries skidded 1.03 percent, Xiaomi Corporation tanked 1.83 percent and WuXi Biologics plummeted 2.99 percent.

The lead from Wall Street is positive as the major averages opened higher on Monday and spent all day in the green.

The Dow climbed 227.79 points or 0.47 percent to finish at 48,362.68, while the NASDAQ jumped 121.21 points or 0.52 percent to close at 23,428.83 and the S&P 500 added 43.99 points or 0.64 percent to end at 6,878.49.

The strength on Wall Street came as on continued strength among technology stocks, with companies like Oracle (ORCL) and AI darling and market leader Nvidia (NVDA) leading the charge.

Overall trading activity was subdued, however, with a lack of major U.S. economic data keeping traders on the sidelines. Some traders may also be away as they look to get a head start on the Christmas Day holiday on Thursday.

Crude oil prices surged on Monday as the conflict between the U.S. and Venezuela continue to escalate, while Russia and Ukraine remain heavily engaged. West Texas Intermediate crude for February delivery was up $1.43 or 2.53 percent at $57.95 per barrel.