Hong Kong Shares Expected To Open To The Upside

(RTTNews) - The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead. The Hang Seng finished sharply lower on Tuesday following losses from the financial shares, property stocks and technology companies. For the day, the index tumbled 304.99 points or 1.18 percent to finish at the daily low of 25,524.92 after peaking at 25,819.70. Among the actives, Alibaba Group plunged 2.57 percent, while Alibaba Health Info fell 0.35 percent, ANTA Sports skidded 0.96 percent, China Life Insurance slid 0.24 percent, China Mengniu Dairy jumped 1.94 percent, China Resources Land surrendered 2.08 percent, CITIC tumbled 1.97 percent, CNOOC advanced 0.85 percent, CSPC Pharmaceutical plummeted 4.33 percent, Galaxy Entertainment shed 0.57 percent, Haier Smart Home and Hengan International both rose 0.08 percent, Hang Lung Properties tanked 2.35 percent, Henderson Land slumped 1.31 percent, Hong Kong & China Gas sank 0.71 percent, Industrial and Commercial Bank of China weakened 1.52 percent, JD.com retreated 1.74 percent, Lenovo lost 0.54 percent, Li Auto crashed 1.96 percent, Li Ning contracted 1.52 percent, Meituan cratered 1.88 percent, New World Development declined 1.62 percent, Nongfu Spring eased 0.09 percent, Techtronic Industries dropped 0.87 percent, WuXi Biologics stumbled 1.98 percent and Xiaomi Corporation was unchanged.

The lead from Wall Street is mildly positive as the major averages were flat for much of Tuesday before a late push nudged them up into the green at the close.

The Dow gained 135.60 points or 0.30 percent to finish at 45,418.07, while the NASDAQ added 94.98 points or 0.44 percent to close at 21,544.27 and the S&P 500 rose 26.62 points or 0.41 percent to end at 6,465.94.

The choppy trading on Wall Street comes as traders seem reluctant to make significant moves ahead of earnings news from Nvidia (NVDA), with the AI darling and market leader due to report its second quarter results later today. Traders are also keeping an eye on the latest developments in Washington after President Donald Trump said he is removing Fed Governor Lisa Cook from her position. Trump accused her of making false statements on one or more mortgage agreements.

Meanwhile, Trump has threatened to impose "substantial additional tariffs" on countries that do not remove digital taxes and related regulations that harm U.S. tech companies.

Crude oil prices moved sharply lower on Tuesday, reflecting concerns about erratic U.S. trade policies. West Texas Intermediate crude for October delivery tumbled $1.55 or 2.4 percent to $63.25 a barrel.