Hong Kong Predicted To Open In The Green On Tuesday

(RTTNews) - The Hong Kong stock market bounced higher again on Monday, one session after halting the three-day winning streak in which it had surged almost 600 points or 3.3 percent. The Hang Seng Index now sits just above the 18,130-point plateau and it's likely to add to its winnings on Tuesday.

The global forecast for the Asian markets is upbeat on an improved outlook for the economy and the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished sharply higher on Monday following gains from the financial shares, property stocks and technology companies.

For the day, the index soared 174.36 points or 0.97 percent to finish at 18,130.74 after trading between 18,113.23 and 18,564.43.

Among the actives, ENN Energy plummeted 5.63 percent, while Lenovo Group surged 2.99 percent, New Word Development plunged 2.82 percent, Alibaba Health Information soared 2.64 percent, Haier Smart Home spiked 1.39 percent, WuXi Biologics rallied 2.03 percent, Meituan jumped 1.89 percent, CSPC Pharmacy strengthened 1.72 percent, ANTA Sports tumbled 1.60 percent, Alibaba Group accelerated 1.60 percent, Country Garden Services climbed 1.53 percent, Industrial and Commercial Bank of China collected 1.45 percent, Hang Lung Properties slumped 1.13 percent, Techtronic Industries advanced 0.91 percent, China Life improved 0.88 percent, JD.com increased 0.85 percent, Xiaomi Corporation added 0.83 percent, CNOOC lost 0.62 percent, China Mengniu Dairy and Galaxy Entertainment both gained 0.60 percent, Li Ning fell 0.27 percent, China Resources Land rose 0.16 percent, CITIC eased 0.13 percent and Hong Kong & China Gas and Henderson Land were unchanged.

The lead from Wall Street is positive as the major averages opened higher on Monday, ebbed and flowed throughout the session but still ended solidly in positive territory.

The Dow jumped 213.08 points or 0.62 percent to finish at 34,559.98, while the NASDAQ spiked 114.48 points or 0.84 percent to close at 13,705.13 and the S&P 500 rallied 27.60 points or 0.63 percent to end at 4,433.31.

The higher open came after China put forth stimulus to ease market unrest and drive economic growth. Chinese authorities announced a slew of measures over the weekend to bolster the country's equity markets and fuel an increase in spending. The measures included a 50 percent reduction in stamp duty on stock trades and a slower pace of initial public offerings.

The markets also saw continued momentum after Fed Chair Jerome Powell expressed confidence in continued economic growth last week at Jackson Hole and reiterated the central bank's commitment to pull inflation back to the 2 percent target.

Crude oil prices edged higher on Monday on optimism that energy operations in the Gulf Coast of Florida may be affected by severe weather conditions this week. West Texas Intermediate Crude oil futures for October ended higher by $0.27 or 0.3 percent at $80.10 a barrel.