Hong Kong Stock Market May Open Under Pressure On Wednesday

RTTNews | 335 dias atrás

(RTTNews) - The Hong Kong stock market on Tuesday wrote a finish to the two-day winning streak in which it had rallied more than 850 points or 4.2 percent. The Hang Seng Index now sits just above the 20,310-point plateau and it's looking at another soft start again on Wednesday.

The global forecast for the Asian markets is negative, with weakness expected from the computer, semiconductor and housing sectors. The European and U.S. markets were down and the Asian bourses are expected to follow that lead.

The Hang Seng finished modestly lower on Tuesday following losses from the oil and insurance companies and mixed performance from the technology and property sectors.

For the day, the index slumped 102.81 points or 0.50 percent to finish at 20,311.28 after trading between 20,308.86 and 21,070.05.

Among the actives, Alibaba Group shed 0.35 percent, while Alibaba Health Info retreated 1.83 percent, ANTA Sports sank 0.90 percent, China Life Insurance plunged 3.21 percent, China Resources Land tumbled 2.23 percent, CITIC skidded 1.41 percent, CNOOC slumped 1.66 percent, CSPC Pharmaceutical declined 1.75 percent, Galaxy Entertainment added 0.55 percent, Haier Smart Home dropped 1.22 percent, Hang Lung Properties gathered 0.15 percent, Henderson Land fell 0.20 percent, Hong Kong & China Gas increased 0.50 percent, JD.com improved 0.72 percent, Lenovo advanced 0.85 percent, Li Auto stumbled 2.01 percent, Li Ning rose 0.34 percent, Meituan perked 0.06 percent, New World Development gained 0.45 percent, Nongfu Spring tanked 2.71 percent, Techtronic Industries lost 0.26 percent, WuXi Biologics plummeted 3.89 percent and China Mengniu Dairy, Industrial and Commercial Bank of China and Xiaomi Corporation were unchanged.

The lead from Wall Street is soft as the major averages opened flat on Tuesday and hugged the line for most of the session before sinking firmly into the red late in the day.

The Dow dropped 154.10 points or 0.35 percent to finish at 44,247.83, while the NASDAQ sank 49.45 points or 0.25 percent to close at 19,687.24 and the S&P 500 fell 17.94 points or 0.30 percent to end at 6,034.91.

The weakness that emerged on Wall Street came as traders continued to cash in on recent strength in the markets ahead of the release of the Labor Department's closely watched report on consumer price inflation later today.

While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, the data could impact the outlook for future rate cuts by the central bank.

CME Group's FedWatch Tool is currently indicating an 86.1 percent chance the Fed will lower rates by a quarter point next week but a 69.1 percent chance the central bank will then leave rates unchanged in late January.

Oil futures settled higher on Tuesday amid hopes that demand from China will increase following recent stimulus measures announced by the Chinese government. West Texas Intermediate Crude oil futures for January closed up $0.22 or 0.32 percent at $68.59 a barrel.

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Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

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Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

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Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

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Japanese Market Significantly Higher

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Higher Open Predicted For Hong Kong Stock Market

The Hong Kong stock market has moved higher in two of three trading days since the end of the two-day slide in which it had dropped more than 220 points or 0.8 percent. The Hang Seng Index now rests just beneath the 26,650-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

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Additional Support Likely For China Stock Market

The China stock market bounced higher again on Monday, one session after halting the two-day winning streak in which it had advanced more than 45 points or 1.1 percent. The Shanghai Composite Index now sits just beneath the 4,020-point plateau The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The SCI finished modestly higher on Monday following gains from the financial shares, property stocks and resource companies. For the day, the index gained 21.04 points or 0.53 percent to finish at 4,018.60 after trading between 3,990.84 and 4,018.70. The Shenzhen Composite Index added 10.15 points or 0.40 percent to end at 2,529.44. Among the actives, Industrial and Commercial Bank of China advanced 0.87 percent, while Bank of China rose 0.35 percent, Agricultural Bank of China rallied 2.12 percent, China Merchants Bank added 0.49 percent, Bank of Communications collected 0.82 percent, China Life Insurance jumped 1.95 percent, Jiangxi Copper improved 0.95 percent, Aluminum Corp of China (Chalco) soared 3.26 percent, Yankuang Energy vaulted 1.88 percent, PetroChina strengthened 1.65 percent, China Petroleum and Chemical (Sinopec) fell 0.27 percent, Huaneng Power perked 0.24 percent, China Shenhua Energy gained 0.94 percent, Gemdale spiked 2.33 percent, Poly Developments increased 1.25 percent and China Vanke climbed 1.29 percent.

RTTNews | 3 h 43 min atrás

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