Hong Kong Shares Tipped To Open In The Red On Tuesday

(RTTNews) - The Hong Kong stock market bounced higher again on Monday, one session after ending the three-day winning streak in which it had rallied almost 750 points or 3.5 percent. The Hang Seng Index now sits just above the 24,180-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

The Hang Seng finished sharply higher on Monday, propelled by gains from the property, finance and technology sectors. For the day, the index surged 388.89 points or 1.63 percent to finish at the daily high of 24,181.43 after moving as low as 23,957.96. Among the actives, Alibaba Group jumped 2.32 percent, while Alibaba Health Info spiked 3.78 percent, ANTA Sports fell 0.15 percent, China Life Insurance expanded 1.80 percent, China Mengniu Dairy climbed 1.68 percent, China Resources Land strengthened 2.11 percent, CITIC gained 1.15 percent, CNOOC advanced 1.31 percent, CSPC Pharmaceutical sank 0.45 percent, Galaxy Entertainment perked 0.45 percent, Haier Smart Home picked up 0.43 percent, Hang Lung Properties rose 1.10 percent, Henderson Land was up 0.40 percent, Hong Kong & China Gas tumbled 1.32 percent, Industrial and Commercial Bank of China collected 1.19 percent, JD.com soared 4.12 percent, Lenovo added 1.20 percent, Li Auto rallied 2.74 percent, Li Ning accelerated 3.02 percent, Meituan surged 4.73 percent, New World Development increased 1.94 percent, Nongfu Spring gathered 0.51 percent, Techtronic Industries shed 0.22 percent, Xiaomi Corporation improved 1.98 percent, WuXi Biologics skyrocketed 5.48 percent and Hengan International and ENN Energy were unchanged.

The lead from Wall Street is pedestrian as the major averages opened lower on Monday, moved into the green by midday but faded going into the close to end mixed and little changed.

The Dow dipped 1.11 points or 0.00 percent to finish at 42,761.76, while the NASDAQ added 61.28 points or 0.31 percent to close are 19,591.24 and the S&P 500 perked 5.52 points or 0.09 percent to end at 6,005.88.

The choppy trading on Wall Street came as traders awaited any news of U.S.-China trade talks that in London later today that could help ease trade tensions between the two superpowers. While most of the major sectors ended the day showing only modest moves, semiconductor stocks moved sharply higher on the day, driving the Philadelphia Semiconductor Index up by 2.0 percent to its best closing level in over three months.

Crude oil rose on Monday due to hopes sparked by US-China trade talks and that the nearing summer travel season may boost energy demand. West Texas Intermediate crude for July delivery settled at $65.29 per barrel, up 71 cents, the highest since April 3.