Hong Kong Shares Tipped To Open To The Upside

(RTTNews) - The Hong Kong stock market surged higher again on Tuesday, on day after ending the three-day winning streak in which it had advanced almost 525 points or 2.6 percent. The Hang Seng Index now rests just beneath the 20,800-point plateau and it's expected to move higher again on Wednesday.

The global forecast for the Asian markets is upbeat on easing concerns of a trade war. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.

The Hang Seng finished sharply higher on Tuesday with bargain hunting across the board after heavy selling a day earlier.

For the day, the index rallied 572.70 points or 2.83 percent to finish at 20,789.96 after trading between 20,297.64 and 20,885.49.

Among the actives, Alibaba Group climbed 3.88 percent, while Alibaba Health Info accelerated 6.21 percent, ANTA Sports advanced 3.40 percent, China Life Insurance improved 3.66 percent, China Mengniu Dairy added 3.02 percent, China Resources Land gathered 1.31 percent, CITIC rose 2.29 percent, CNOOC picked up, CSPC Pharmaceutical cashed 0.45 percent, ENN Energy slumped 0.85 percent, Galaxy Entertainment dropped 0.80 percent, Haier Smart Home gained 2.58 percent, Hang Lung Properties was up 0.50 percent, Henderson Land sank 0.23 percent, Industrial and Commercial Bank of China collected 2.08 percent, JD.com soared 6.71 percent, Lenovo surged 6.91 percent, Li Auto skyrocketed 8.71 percent, Li Ning jumped 5.66 percent, Meituan rallied 5.97 percent, New World Development moved up 1.21 percent, Nongfu Spring increased 3.45 percent, Techtronic Industries perked 1.15 percent, Xiaomi Corporation strengthened 4.22 percent, WuXi Biologics spiked 6.49 percent and Hong Kong & China Gas and CLP Holdings were unchanged.

The lead from Wall Street is positive as the major averages opened mixed on Tuesday but trended upward throughout the session to finish solidly in the green and at session highs.

The Dow climbed 134.13 points or 0.30 percent to finish at 44,556.04, while the NASDAQ rallied 262.06 points or 1.35 percent to close at 19,654.02 and the S&P 500 gained 43.31 points or 0.72 percent to end at 6,037.88.

The strength on Wall Street partly reflected easing concerns about a global trade war after President Donald Trump agreed to pause 25 percent tariffs on imports from Mexico and Canada for a month.

Positive sentiment was also generated in reaction to a report from the Labor Department showing job openings in the U.S. fell by much more than expected in December.

The data led to some optimism about the outlook for interest rates ahead of the release of the Labor Department's more closely watched monthly jobs report on Friday.

Oil prices fell on Tuesday as Trump agreed to postpone levies on Canada and Mexico's exports to the United States. West Texas Intermediate Crude oil futures for March settled at $72.70 a barrel, down $0.46 or about $0.63 percent.