Hong Kong Shares Tipped To Open In The Green

RTTNews | 652 days ago
Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has finished lower in four straight sessions, tumbling more than 500 points or 3 percent in that span. The Hang Seng Index now rests just above the 16,530-point plateau although it may find support on Monday.

The global forecast for the Asian markets is murky as investors try to balance upbeat economic data against its consequences for interest rates. The European markets were down on Friday and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The Hang Seng finished modestly lower on Friday following losses from the financial shares and technology stocks, while the properties came in mixed.

For the day, the index lost 110.67 points or 0.66 percent to finish at 16,535.33 after trading between 16,455.57 and 16,745.73.

Among the actives, Alibaba Group plunged 3.24 percent, while Alibaba Health Info declined 2.03 percent, ANTA Sports slid 0.21 percent, China Life Insurance dropped 1.03 percent, China Mengniu Dairy weakened 1.31 percent, China Resources Land rallied 0.94 percent, CITIC skidded 1.16 percent, CNOOC jumped 1.65 percent, Country Garden and CLP Holdings both eased 0.16 percent, CSPC Pharmaceutical tumbled 2.18 percent, ENN Energy surged 3.69 percent, Galaxy Entertainment tanked 2.83 percent, Haier Smart Home soared 2.80 percent, Hang Lung Properties fell 0.39 percent, Hong Kong & China Gas advanced 0.68 percent, Industrial and Commercial Bank of China lost 0.79 percent, JD.com stumbled 1.59 percent, Lenovo plummeted 3.93 percent, Li Ning retreated 1.77 percent, Meituan added 0.32 percent, New World Development slumped 1.42 percent, Techtronic Industries sank 0.97 percent, Xiaomi Corporation shed 0.93 percent, WuXi Biologics surrendered 2.48 percent and Henderson Land was unchanged.

The lead from Wall Street offers little clarity as the major averages saw considerable volatility on Friday before ending with slight gains.

The Dow added 25.81 points or 0.07 percent to finish at 37,466.11, while the NASDAQ rose 13.77 points or 0.09 percent to close at 14,524.07 and the S&P 500 perked 8.56 points or 0.18 percent to end at 4,697.24.

For the week, the major averages were down for the first time in 10 weeks as the NASDAQ plunged 3.3 percent, the S&P 500 slumped 1.5 percent and the Dow slid 0.6 percent.

The volatility came as traders reacted to key U.S. economic data, including a closely watched Labor Department report showing stronger than expected job growth in December.

While the data initially raised concerns about the outlook for interest rates, positive sentiment prevailed as traders digested the details of the report, which also showed notable downward revisions to job growth in October and November.

Crude oil showed a strong move to the upside on Friday, reflected ongoing fears of an escalation of the Israel-Hamas war into a broader regional conflict. West Texas Intermediate for February delivery surged $1.62 or 2.2 percent to $73.81 a barrel.

read more
European Shares Seen Tad Higher At Open

European Shares Seen Tad Higher At Open

European stocks are seen opening a tad higher on Tuesday, with U.S.-China tensions and the latest batch of quarterly earnings results likely to be in focus.
RTTNews | 35 minutes ago
European Economic News Preview: UK Public Sector Finance Data Due

European Economic News Preview: UK Public Sector Finance Data Due

Public sector finances data from the UK is the only major report due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics is scheduled to issue UK public sector finance data. The budget deficit is forecast to widen to GBP 20.7 billion in September from GBP 18 billion in August.
RTTNews | 49 minutes ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending its early gains in mid-market trading on Tuesday, also adding to the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 9,050 level, with gains across most sector led by mining and technology stocks.
RTTNews | 2h 47min 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, on widespread expectations of further interest rate cuts by the US Fed amid recent signs of sluggishness in the labor market despite the ongoing shutdown leading to the indefinite delay of the release of key economic data. Asian markets closed mostly higher on Monday.
RTTNews | 3h 9min ago
Indian Markets Closed For Diwali

Indian Markets Closed For Diwali

Indian stock markets remain closed today for Diwali but there will be a special trading session from 1:45 p.m. to 2:45 p.m. IST to mark the festival. Generally, the Muhurat trading session is held in the evening every year.
RTTNews | 3h 45min ago
Thai Shares Tipped To Open To The Upside

Thai Shares Tipped To Open To The Upside

The Thai stock market moved back to the upside again on Monday, one session after ending the two-day winning streak in which it had jumped more than 25 points or 2 percent. The Stock Exchange of Thailand now sits just under the 1,285-point plateau and it's expected to open higher again on Tuesday.
RTTNews | 4h 15min ago
Higher Open Called For Indonesia Stock Market

Higher Open Called For Indonesia Stock Market

The Indonesia stock market bounced higher again on Monday, one session after ending the three-day losing streak in which it had dropped more than 200 points or 2.6 percent. The Jakarta Composite Index now rests just beneath the 8,090-point plateau and it's got a solid lead again for Tuesday's trade.
RTTNews | 4h 45min ago
Japanese Market Significantly Higher

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, extending the strong gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 49,700 level to all-time highs, with gains in index heavyweights, exporters and financial stocks.
RTTNews | 4h 51min ago