Hong Kong Shares Tipped To Open Under Pressure

(RTTNews) - The Hong Kong stock market rebounded on Monday, one session after ending the five-day winning streak in which it had rallied almost 1,300 points or 5.1 percent. The Hang Seng Index now sits just above the 25,560-point plateau although it may hand back those gains on Tuesday.

The global forecast for the Asian markets is flat with a touch of weakness ahead of the U.S. interest rate decision later this week. The European markets were down and the U.S. bourses were mixed and flat and the Asian markets figure to split the difference.

The Hang Seng finished modestly higher on Monday as the financials, properties and technology stocks ended mostly in the green.

For the day, the index rallied 173.78 points or 0.68 percent to finish at 25,562.13 after trading between 25,399.36 and 25,667.40.

Among the actives, Alibaba Group rallied 2.20 percent, while Alibaba Health Info shed 0.62 percent, ANTA Sports rose 0.44 percent, China Life Insurance jumped 1.76 percent, China Mengniu Dairy sank 0.82 percent, China Resources Land advanced 0.83 percent, CITIC increased 1.31 percent, CNOOC stumbled 1.47 percent, CSPC Pharmaceutical soared 5.45 percent, Haier Smart Home was up 0.39 percent, Hang Lung Properties spiked 1.89 percent, Henderson Land climbed 1.46 percent, Hong Kong & China Gas improved 1.44 percent, Industrial and Commercial Bank of China collected 0.49 percent, JD.com gained 0.54 percent, Lenovo added 0.77 percent, Li Auto dropped 0.86 percent, Li Ning slumped 1.29 percent, Meituan lost 0.54 percent, New World Development surged 6.02 percent, Nongfu Spring plummeted 2.80 percent, Techtronic Industries dipped 0.16 percent, Xiaomi Corporation skidded 1.05 percent, WuXi Biologics strengthened 1.59 percent and Galaxy Entertainment was unchanged.

The lead from Wall Street is murky as the major averages opened mixed on Monday and finished little changed and on opposite sides of the line.

The Dow slumped 64.36 points or 0.14 percent to finish at 44,837.56, while the NASDAQ gained 70.27 points or 0.33 percent to close at a record high 21,178.58 and the S&P perked 1.13 points or 0.02 percent to end at 6,389.77, also a record.

The modest strength on Wall Street followed news the U.S. and the European Union struck a last-minute trade agreement and reports suggest the U.S. and China are likely to extend their tariff truce for another 90 days.

However, buying interest was subdued ahead of the Federal Reserve's monetary policy announcement later this week. While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.

The Labor Department's monthly jobs report is also likely to be in focus in the coming days along with earnings news from Magnificent Seven members Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META).

Crude oil price surged on Monday after the US announced a tariff framework agreement with the EU, cooling fears of a big tariff war. West Texas Intermediate crude for September delivery jumped $1.72 or 2.64 percent to $66.88 per barrel.