Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in consecutive trading days, accelerating more than 650 points or 3.8 percent along the way. The Hang Seng Index now rests just above the 17,660-point plateau and the market is looking at another positive lead again on Monday.

The global forecast for the Asian markets is upbeat on an improved outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The Hang Seng finished sharply higher on Friday with gains across the board, especially among the technology and property sectors.

For the day, the index surged 433.52 points or 2.52 percent to finish at 17,664.12 after trading between 17,352.60 and 17,729.43.

Among the actives, Alibaba Group jumped 2.92 percent, while Alibaba Health Info accelerated 3.20 percent, ANTA Sports soared 3.27 percent, China Life Insurance spiked 3.01 percent, China Mengniu Dairy surged 3.89 percent, China Resources Land was up 0.52 percent, CITIC strengthened 2.82 percent, CNOOC improved 1.85 percent, Country Garden jumped 2.93 percent, CSPC Pharmaceutical added 1.17 percent, Galaxy Entertainment climbed 2,75 percent, Hang Lung Properties gained 1.13 percent, Henderson Land rallied 3.26 percent, Hong Kong & China Gas increased 1.98 percent, Industrial and Commercial Bank of China collected 0.79 percent, JD.com spiked 3.72 percent, Lenovo advanced 2.37 percent, Li Ning skyrocketed 6.58 percent, Meituan strengthened 2.78 percent, New World Development soared 3.90 percent, Techtronic Industries surged 4.49 percent, Xiaomi Corporation rose 1.06 percent and WuXi Biologics improved 2.02 percent.

The lead from Wall Street is broadly positive as the major averages opened higher on Friday and remained in the green throughout the session.

The Dow surged 222.22 points or 0.66 percent to finish at 34,061.32, while the NASDAQ jumped 184.08 points or 1.38 percent to end at 13,478.28 and the S&P 600 gained 40.56 points or 0.95 percent to close at 4,358.34.

For the week, the NASDAQ skyrocketed 6.6 percent, the S&P 500 soared 5.9 percent and the Dow spiked 5.1 percent.

The continued strength on Wall Street reflected a positive reaction to a Labor Department report showing U.S. employment rose less than expected in October.

The data added to optimism the Federal Reserve is done raising interest rates after the central bank left rates unchanged for the third time in four meetings last week.

Treasury yields also extended a recent slump following the release of the report, adding to the buying interest on Wall Street.

Crude oil moved sharply lower on Friday on worries about the outlook for energy demand. West Texas Intermediate for December delivery tumbled $1.95 or 2.4 percent to $80.51 a barrel.