Overbought Heng Seng Nonetheless Called Higher On Monday

RTTNews | 421 days ago
Overbought Heng Seng Nonetheless Called Higher On Monday

(RTTNews) - The Hong Kong stock market has moved higher in five straight sessions, gathering almost 1,470 points or 8.7 percent along the way. The Hang Seng Index now sits just above the 17,650-point plateau and it has a strong lead again for Monday's trade.

The global forecast for the Asian markets is positive on upbeat inflation data and support from the oil and technology companies. The European and U.S. markets were firmly higher and the Asian bourses are expected to open in similar fashion.

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

For the day, the index surged 366.65 point or 2.12 percent to finish at 17,651.15 after trading between 17,336.20 and 17,758.24.

Among the actives, Alibaba Group improved 3.15 percent, while Alibaba Health Info skyrocketed 7.27 percent, ANTA Sports added 1.12 percent, China Life Insurance collected 1.78 percent, China Mengniu Dairy gained 2.03 percent, China Resources Land surged 6.72 percent, CITIC perked 1.21 percent, CNOOC climbed 3.58 percent, Country Garden rallied 4.69 percent, CSPC Pharmaceutical gathered 1.23 percent, Galaxy Entertainment rose 1.57 percent, Hang Lung Properties rose 0.36 percent, Henderson Land gained 0.85 percent, Hong Kong & China Gas shed 0.66 percent, Industrial and Commercial Bank of China sank 0.48 percent, JD.com accelerated 5.75 percent, Lenovo advanced 2.38 percent, Li Ning soared 6.03 percent, Meituan strengthened 3.68 percent, New World Development increased 2.91 percent, Techtronic Industries added 2.16 percent, Xiaomi Corporation jumped 4.58 percent and WuXi Biologics spiked5.81 percent

The lead from Wall Street is solid as the major averages opened higher on Friday and remained in the green throughout the trading day.

The Dow climbed 153.86 points or 0.40 percent to finish at 38,239.66, while the NASDAQ surged 316.10 points or 2.02 percent to end at 15,927.90 and the S&P 500 rallied 51.54 points or 1.02 percent to close at 5.099.96.

For the week, the NASDAQ spiked 4.2 percent, the S&P 500 jumped 2.7 percent and the Dow added 0.7 percent.

The rally on Wall Street came amid a positive reaction to some of the latest earnings news from big-name tech companies such as Alphabet (GOOGL), software giant Microsoft (MSFT) and Snap (SNAP).

Traders also reacted positively to closely watched readings on inflation released by the Commerce Department showing consumer prices in the U.S. increased in line with estimates in March.

Treasury yields moved lower following the release of the report, which may have helped mitigate any negative response to the data.

Oil prices edged higher on Friday on optimism about the outlook for oil demand and concerns about supply. West Texas Intermediate Crude oil futures for June ended higher by $0.28 or 0.34 percent at $83.85 a barrel. WTI crude futures gained 0.85 percent in the week.

read more
European Shares Seen Higher As Tensions Ease Over Strait Of Hormuz

European Shares Seen Higher As Tensions Ease Over Strait Of Hormuz

European stocks may open on a buoyant note Tuesday as a sharp decrease in oil prices following a ceasefire declaration between Iran and Israel by former U.S. President Donald helped ease concerns surrounding the outlook for inflation and interest rates. After launching multiple missiles at Israel, Iran hinted that the truce deal had come into effect. So far, there has been no official statement from Israel on the ceasefire agreement.
RTTNews | 14 minutes ago
Sensex, Nifty Rally As Geopolitical Tensions Ease

Sensex, Nifty Rally As Geopolitical Tensions Ease

Indian shares opened on a buoyant note Tuesday after U.S. President Donald Trump said a "complete and total ceasefire" between Iran and Israel will take effect in the coming hours, sending oil prices plunging below the levels of June 12, which was the day Israel attacked Iran.
RTTNews | 1h 22min ago
Australian Market Maintains Early Gains In Mid-market

Australian Market Maintains Early Gains In Mid-market

The Australian stock market is maintaining its early gains in mid-market trading on Tuesday, snapping a five-session losing streak, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,550 level, with gains in mining, financial and technology stocks partially offset by weakness in energy stocks amid tumbling crude oil prices.
RTTNews | 2h 35min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react positively to reports that Israel and Iran have agreed to a "complete and total ceasefire" to be phased in over 24 hours. US Fed Vice Chair Michelle Bowman said she favored a rate cut "as soon" as July if inflationary pressures remain contained.
RTTNews | 2h 50min ago
Higher Open Called For Thai Stock Market

Higher Open Called For Thai Stock Market

The Thai stock market has finished lower in eight straight sessions, slumping more than 80 points or 7 percent along the way. The Stock Exchange of Thailand now sits just above the 1,060-point plateau and it's overdue for support on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
RTTNews | 3h 52min ago
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese stock market is trading sharply higher on Tuesday, reversing some of the losses in the previous three sessions, following the broadly positive cues from Wall Street overnight, with the Nikkei 225 moving above the 38,850 level, with gains across most sectors led by index heavyweights and technology stocks.
RTTNews | 4h 7min ago
Indonesia Stock Market Due For Support On Tuesday

Indonesia Stock Market Due For Support On Tuesday

The Indonesia stock market has tracked lower in four straight sessions, slumping almost 370 points or 4.8 percent in that span. The Jakarta Composite Index now sits just beneath the 6,790-point plateau although it's tipped to open in the green on Tuesday. The global forecast for the Asian markets in positive on an improved outlook for interest rates. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.
RTTNews | 4h 22min ago