Hong Kong Bourse Tipped To Extend Winning Streak

(RTTNews) - The Hong Kong stock market has finished higher in six straight sessions, rallying more than 1,230 points or 6 percent in that span. The Hang Seng now sits just above the 20,100-point plateau and it's got another strong lead for Wednesday's trade.

The global forecast for the Asian markets is positive on renewed optimism about the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The Hang Seng finished modestly higher on Tuesday following gains from the financial and technology stocks, while the property sector was mixed.

For the day, the index jumped 180.74 points or 0.91 percent to finish at 20,106.55 after trading between 19,920.31 and 20,205.25.

Among the actives, Alibaba Group spiked 2.96 percent, while Alibaba Health Info picked up 0.30 percent, ANTA Sports rose 0.86 percent, China Life Insurance jumped 1.60 percent, China Mengniu Dairy soared 3.03 percent, China Resources Land strengthened 1.28 percent, CITIC improved 1.27 percent, CNOOC dropped 0.73 percent, CSPC Pharmaceutical gained 0.91 percent, Galaxy Entertainment advanced 1.10 percent, Haier Smart Home dipped 0.19 percent, Hang Lung Properties eased 0.16 percent, Henderson Land slumped 0.89 percent, Hong Kong & China Gas perked 0.50 percent, Industrial and Commercial Bank of China collected 0.60 percent, JD.com gathered 0.64 percent, Lenovo was up 0.11 percent, Li Auto skyrocketed 5.32 percent, Li Ning increased 1.16 percent, Meituan rallied 1.93 percent, New World Development climbed 1.18 percent, Nongfu Spring added 0.99 percent, Techtronic Industries accelerated 2.21 percent, Xiaomi Corporation surged 3.94 percent and WuXi Biologics tumbled 2.67 percent.

The lead from Wall Street is upbeat as the major averages opened higher on Tuesday and mostly stayed that way throughout the trading day.

The Dow soared 537.98 points or 1.24 percent to finish at 44,025.81, while the NASDAQ rallied 126.58 points or 0.64 percent to close at 19,756.78 and the S&P 500 gained 52.58 points or 0.88 percent to end at 6,049.24.

U.S. stocks were firmly in positive territory, with investors assessing the possible impact of the Trump administration's economic policies and likely tariff proposals.

Optimism about some interest rate cuts by the Federal Reserve this year, and a drop in treasury yields also contributed to market's upside.

The recent retreat by treasury yields came as the U.S. inflation data released over the past few days led to renewed optimism about the outlook for interest rates.

Oil prices tumbled on Tuesday, weighed down by Trump's plans to boost oil and gas production in the U.S. West Texas Intermediate Crude oil futures for February closed down $1.99 or 2.56 percent at $75.89 a barrel.