Hong Kong Stock Market Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved lower in two straight sessions, slumping more than 525 points or 2.6 percent along the way. The Hang Seng Index now sits just above the 20,425-point plateau although it may halt its slide on Tuesday.

The global forecast for the Asian markets is positive, mostly on inertia following the U.S. election. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The Hang Seng finished sharply lower on Monday following losses among the financials, properties and oil companies, while the technology stocks were mixed.

For the day, the index tumbled 301.26 points or 1.45 percent to finish at 20,426.93 after trading between 20,151.38 and 20,505.01.

Among the actives, Alibaba Group rose 0.11 percent, while Alibaba Health Info added 0.93 percent, ANTA Sports shed 1.40 percent, China Life Insurance plummeted 4.02 percent, China Mengniu Dairy lost 1.30 percent, China Resources Land stumbled 2.24 percent, CITIC dropped 1.50 percent, CNOOC surrendered 2.59 percent, Galaxy Entertainment slid 0.96 percent, Haier Smart Home fell 1.07 percent, Hang Lung Properties retreated 2.06 percent, Hong Kong & China Gas gained 0.33 percent, Industrial and Commercial Bank of China declined 2.05 percent, JD.com tumbled 2.32 percent, Lenovo jumped 1.93 percent, Li Auto was down 0.47 percent, Li Ning weakened 1.96 percent, Meituan tanked 3.23 percent, New World Development skidded 1.51 percent, Nongfu Spring plunged 3.86 percent, Techtronic Industries sank 1.46 percent, Xiaomi Corporation rallied 3.53 percent, WuXi Biologics slumped 1.75 percent and CSPC Pharmaceutical, Henderson Land and CLP Holdings were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened higher on Monday and spent most of the day hugging line before finishing with mild gains that were all fresh record closing highs.

The Dow jumped 304.14 points or 0.69 percent to finish at 44,294.13, while the NASDAQ rose 11.99 points or 0.06 percent to close at 19,298.76 and the S&P 500 added 5.81 points or 0.10 percent to end at 6,001.35.

Investors remained optimistic that Donald Trump's policies such as tax reductions and deregulation will help boost corporate earnings.

Oil futures closed sharply lower on Monday, weighed down by a stronger dollar and concerns about demand. West Texas Intermediate Crude oil futures for December ended down $2.34 or 3.6 percent at $68.04 a barrel.