Higher Open Predicted For Hong Kong Stock Market

RTTNews | 246 days ago
Higher Open Predicted For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market has moved higher in three straight sessions, advancing almost 700 points or 3.4 percent along the way. The Hang Seng Index now sits just above the 21,000-point plateau and it's got a positive lead again for Wednesday's trade.

The global forecast for the Asian markets is upbeat thanks to optimism over the U.S. presidential election. The European markets were mixed and the U.S. markets were up and the Asian markets figure to follow the latter lead.

The Hang Seng finished sharply higher on Tuesday with gains across the board.

For the day, the index surged 439/45 points or 2.14 percent to finish at the daily high of 21,006.97 after trading as low as 20,409.94.

Among the actives, Alibaba Group and China Resources Land both strengthened 2.45 percent, while Alibaba Health Info surged 5.75 percent, ANTA Sports rallied 3.91 percent, China Life Insurance soared 5.16 percent, China Mengniu Dairy spiked 4.65 percent, CITIC jumped 2.85 percent, CNOOC gained 1.55 percent, CSPC Pharmaceutical accelerated 4.39 percent, Galaxy Entertainment advanced 2.30 percent, Haier Smart Home rose 0.69 percent, Hang Lung Properties rallied 3.87 percent, Henderson Land rose 1.17 percent, Hong Kong & China Gas increased 0.33 percent, Industrial and Commercial Bank of China collected 1.46 percent, JD.com added 1.60 percent, Lenovo gathered 1.16 percent, Li Auto slumped 0.81 percent, Li Ning soared 7.04 percent, Meituan strengthened 3.25 percent, New World Development spiked 3.43 percent, Nongfu Spring surged 9.56 percent, Techtronic Industries was up 0.35 percent, Xiaomi Corporation jumped 3.30 percent and WuXi Biologics climbed 3.22 percent.

The lead from Wall Street is broadly positive as the major averages opened higher on Tuesday and picked up steam as the day progressed, ending near session highs.

The Dow rallied 427.28 points or 1.02 percent to finish at 42,221.88, while the NASDAQ surged 259.19 points or 1.43 percent to close at 18,439.17 and the S&P 500 jumped 70.07 points or 1.23 percent to end at 5.782.76.

The rally on Wall Street reflected optimism the stock market and the U.S. economy in general will continue to perform well regardless of the results of the elections.

Polls show an extremely tight race between Vice President Kamala Harris and former President Donald Trump, suggesting the outcome of the presidential election may not be known by the end of the night.

In economic news, the Institute for Supply Management said service sector activity grew at an accelerated rate in October. Also, the Commerce Department noted a significant increase in the size of the U.S. trade deficit in September, as imports surged and exports slumped.

Oil futures settled higher on Tuesday, extending gains from the previous session as traders reacted positively to OPEC's decision to delay production increases, while a weaker dollar also supported prices. West Texas Intermediate Crude oil futures for December closed up $0.52 or 0.73 percent at $71.99 a barrel.

read more
Bank Of Korea Keeps Rates Steady

Bank Of Korea Keeps Rates Steady

The Bank of Korea maintained its interest rate on Thursday as rising house prices and household debt pose risks to the financial stability amid escalating trade tensions weighing on economic growth outlook. The Monetary Policy Board decided to leave the Base Rate unchanged at 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point each in May and February.
RTTNews | 1h 8min ago
European Shares Set To Open Higher Despite Rising Trade Tensions

European Shares Set To Open Higher Despite Rising Trade Tensions

European stocks may open mostly higher on Thursday despite U.S. President Donald Trump escalating his tariff campaign, sending letters to six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 2h 4min ago
European Economic News Preview: Germany Final Inflation Data Due

European Economic News Preview: Germany Final Inflation Data Due

Final inflation from Germany and industrial output from Italy are the top economic news due on Thursday. At 2.00 am ET, Destatis is scheduled to release Germany's final inflation data for June. Flash inflation showed that consumer price inflation eased to 2.0 percent from 2.1 percent in May.
RTTNews | 2h 24min ago
Sensex, Nifty Subdued On Trade Jitters

Sensex, Nifty Subdued On Trade Jitters

Indian shares were subdued on Thursday as U.S. President Donald Trump escalated his tariff campaign, sending letters targeting six additional countries—Algeria, Iraq, Libya, Brunei, Moldova, and the Philippines—with fresh import duties ranging from 20-30 percent.
RTTNews | 3h 16min ago
Australian Market Extends Early Gains In Mid-market

Australian Market Extends Early Gains In Mid-market

The Australian market is extending early gains in mid-market moves on Thursday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,600 level, with gains across all sectors led by technology and mining stocks.
RTTNews | 4h 14min ago
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders are optimistic about an end to the tariff uncertainty after US President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition.
RTTNews | 4h 18min ago
Sensex, Nifty Set For Muted Open

Sensex, Nifty Set For Muted Open

Indian shares look set to open on a flat note Thursday as investors watch the latest developments on the trade front, react to the latest FOMC meeting minutes and look for direction from Q1 business updates from prominent companies.
RTTNews | 5h 5min ago
Indonesia Stock Market May Extend Winning Streak

Indonesia Stock Market May Extend Winning Streak

The Indonesia stock market has moved higher in three straight sessions, gathering almost 80 points or 1.2 percent along the way. The Jakarta Composite Index now sits just above the 6,940-point plateau and it may add to its winnings again on Thursday.
RTTNews | 6h 5min ago