Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market on Wednesday halted the seven-day losing streak in which it had plummeted more than 1,850 points or 7 percent. The Hang Seng Index now rests just above the 25,900-point plateau and it may extend those gains on Thursday.

The global forecast for the Asian markets is murky amid rising tensions between the world's two largest economies. The European markets were mostly lower and the U.S. bourses were mostly higher and the Asian markets figure to split the difference.

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

For the day, the index rallied 469.25 points or 1.84 percent to finish at 25,910.60 after trading between 25,593.45 and 25,982.21.

Among the actives, Alibaba Group soared 3.86 percent, while Alibaba Health Info surged 3.87 percent, ANTA Sports and CITIC both advanced 1.95 percent, China Life Insurance skyrocketed 6.02 percent, China Mengniu Dairy gathered 1.18 percent, China Resources Land fell 0.28 percent, CNOOC was up 0.91 percent, CSPC Pharmaceutical jumped 3.53 percent, ENN Energy sank 0.66 percent, Galaxy Entertainment spiked 3.82 percent, Haier Smart Home perked 0.74 percent, Hang Lung Properties improved 1.70 percent, Henderson Land shed 0.58 percent, Hong Kong & China Gas gained 1.28 percent, JD.com climbed 2.06 percent, Lenovo expanded 2.83 percent, Li Auto strengthened 3.40 percent, Li Ning rose 1.26 percent, Meituan increased 1.63 percent, New World Development added 1.31 percent, Nongfu Spring collected 1.40 percent, Techtronic Industries rallied 3.42 percent, Xiaomi Corporation vaulted 1.77 percent, WuXi Biologics accelerated 3.69 percent and Industrial and Commercial Bank of China was unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened higher on Wednesday but slumped midday and finished mixed.

The Dow dipped 17.15 points or 0.04 percent to finish at 46,253.31, while the NASDAQ jumped 148.38 points or 0.66 percent to end at 22,670.08 and the S&P 500 added 26.75 points or 0.40 percent to close at 6,671.06.

The continued volatility on Wall Street came as traders weighed upbeat earnings news against concerns about U.S.-China trade tensions and lingering worries about valuations.

In U.S. economic news, the Federal Reserve Bank of New York said New York manufacturing activity has seen a significant turnaround in October. Also, the Federal Reserve's Beige Book said economic activity in the U.S. has shown little change since early September.

Crude oil prices fell on Wednesday following the rapid escalation of friction between the U.S. and China, while oversupply concerns also loom. West Texas Intermediate crude for November delivery was down $0.33 or 0.56 percent at $58.37 per barrel.