Overbought Hang Seng Has Positive Lead For Monday's Trade

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(RTTNews) - The Hong Kong stock market has moved higher in nine straight sessions, gathering more than 2,270 points or 13.3 percent along the way. The Hang Seng Index now sits just above the 18,475-point plateau and it's nonetheless tipped to open higher again on Monday.

The global forecast for the Asian markets is positive on an improved outlook for interest rates. The European and U.S. bourses finished solidly higher and the Asian markets are expected to open in similar fashion.

The Hang Seng finished sharply higher on Friday with gains across the board, especially among the financial, technology and property sectors.

For the day, the index rallied 268.82 points or 1.48 percent to finish at 18,475.92 after trading between 18,362.22 and 18,604.17.

Among the actives, Alibaba Group surged 4.07 percent, while ANTA Sports rallied 2.86 percent, China Life Insurance soared 3.70 percent, China Mengniu Dairy sank 0.59 percent, China Resources Land and Hong Kong & China Gas both climbed 1.51 percent, CITIC added 0.66 percent, CNOOC and Meituan both gathered 0.50 percent, Country Garden strengthened 1.84 percent, CSPC Pharmaceutical increased 0.75 percent, Galaxy Entertainment spiked 3.59 percent, Hang Lung Properties rose 0.56 percent, Henderson Land gained 0.62 percent, Industrial and Commercial Bank of China collected 1.18 percent, JD.com skyrocketed 5.48 percent, Lenovo advanced 0.88 percent, Li Ning improved 1.39 percent, New World Development jumped 2.85 percent, Techtronic Industries eased 0.09 percent, Xiaomi Corporation accelerated 3.06 percent, WuXi Biologics plummeted 4.12 percent and Alibaba Health Info and CK Infrastructure were unchanged.

The lead from Wall Street is strong as the major averages opened sharply higher on Friday and remained in the green throughout the session.

The Dow surged 449.98 points or 1.18 percent to finish at 38,675.68, while the NASDAQ rallied 315.33 points or 1.99 percent to close at 16,156.33 and the S&P 500 advanced 63.59 points or 1.26 percent to end at 5,127.79. For the week, the S&P 500 climbed 0.6 percent, the Dow added 1.1 percent and the NASDAQ jumped 1.4 percent.

The rally on Wall Street followed the release of a closely watched Labor Department showing employment in the U.S. increased less than expected in April. The data helped generate optimism about the outlook for interest rates following the Federal Reserve's monetary policy meeting earlier in the week.

Also, a separate report released by the Institute for Supply Management showed U.S. service sector activity unexpectedly contracted in April.

Oil prices fell on Friday, pushing the most active futures contract to their biggest weekly decline in about three months on concerns about the outlook for global oil demand. West Texas Intermediate Crude oil futures for June ended down by $0.84 or 1.06 percent at $78.11 a barrel.

Singapore Stock Market Overdue For Support On Tuesday

The Singapore stock market has finished lower in seven straight sessions, slumping more than 55 points or 1.3 percent along the way. The Straits Times Index now sits just beneath the 4,300-point plateau although it may find traction on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The STI finished slightly lower again on Monday following losses from the financial shares and mixed performances from the property stocks and industrial issues. For the day, the index dipped 5.34 points or 0.12 percent to finish at 4,297.37 after trading between 4,291.99 and 4,315.70. Among the actives, CapitaLand Integrated Commercial Trust shed 0.44 percent, while CapitaLand Investment tumbled 1.11 percent, City Developments jumped 1.19 percent, Comfort DelGro sank 0.67 percent, DBS Group lost 0.34 percent, DFI Retail Group and Venture Corporation both rallied 1.58 percent, Genting Singapore advanced 0.66 percent, Hongkong Land plunged 3.42 percent, Keppel Ltd improved 0.57 percent, Oversea-Chinese Banking Corporation was down 0.12 percent, Seatrium Limited tanked 1.68 percent, SembCorp Industries fell 0.33 percent, Singapore Technologies Engineering increased 0.47 percent, SingTel stumbled 1.59 percent, Thai Beverage climbed 1.09 percent, United Overseas Bank eased 0.06 percent, UOL Group slipped 0.13 percent, Yangzijiang Financial surged 1.67 percent, Yangzijiang Shipbuilding dropped 0.91 percent and Mapletree Pan Asia Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust, CapitaLand Ascendas REIT, Keppel DC REIT, Wilmar International, SATS and Frasers Logistics & Commercial Trust were unchanged. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

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South Korea Producer Prices Slip 0.1% In August

Producer prices in South Korea were down a seasonally adjusted 0.1 percent on month in August, the Bank of Korea said on Tuesday - after rising 0.4 percent in July.

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Australia Manufacturing PMI Slips To 51.6 - S&P Global

The manufacturing sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a manufacturing PMI score of 51.6.

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Malaysia Stock Market May See Additional Support On Tuesday

The Malaysia stock market on Monday ended the two-day slide in which it had fallen almost 15 points or 0.9 percent. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KLCI finished slightly higher on Monday following gains from the financial shares, losses from the telecoms and a mixed picture from the plantation stocks. For the day, the index rose 5.11 points or 0.32 percent to finish at 1,603.34 after trading between 1,596.46 and 1,604.31. Among the actives, 99 Speed Mart Retail sank 0.76 percent, while AMMB Holdings jumped 1.26 percent, Axiata plunged 2.95 percent, Celcomdigi slumped 1.06 percent, CIMB Group strengthened 1.11 percent, Gamuda surged 3.08 percent, IHH Healthcare and Maybank both added 0.41 percent, IOI Corporation eased 0.26 percent, Kuala Lumpur Kepong lost 0.50 percent, Maxis was down 0.27 percent, MISC dropped 0.93 percent, MRDIY soared 1.91 percent, Nestle Malaysia spiked 1.88 percent, Petronas Chemicals increased 0.45 percent, Petronas Dagangan plummeted 3.04 percent, Petronas Gas retreated 1.08 percent, PPB Group slipped 0.39 percent, Press Metal shed 0.53 percent, Public Bank improved 0.71 percent, QL Resources tanked 2.05 percent, RHB Bank collected 0.61 percent, Sime Darby stumbled 2.33 percent, SD Guthrie advanced 0.95 percent, Sunway rallied 1.86 percent, Telekom Malaysia fell 0.42 percent, Tenaga Nasional rose 0.30 percent, YTL Corporation gained 0.37 percent and YTL Power climbed 0.96 percent. The lead from Wall Street is mildly positive as the major averages opened in the red on Monday but quickly bounced higher and continued to trend that way throughout the session, ending near daily highs.

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KOSPI May Extend Its Gains On Tuesday

The South Korea stock market has alternated between positive and negative finishes through the last four trading days since the end of the 11-day winning streak in which it had surged more than 300 points or 9.6 percent. Now at a fresh record closing high, the KOSPI sits just beneath the 3,470-point plateau and it may tick higher again on Tuesday. The global forecast for the Asian markets continued to be mildly positive on optimism over the outlook for interest rates. The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference. The KOSPI finished modestly higher on Monday following gains from the automobile producers and mixed performances from the financial shares, chemicals and technology stocks. For the day, the index added 23.41 points or 0.68 percent to finish at 3,468.65 after trading between 3,458.87 and 3,482.25. Volume was 280.84 million shares worth 11.84 trillion won. There were 545 decliners and 332 gainers. Among the actives, Shinhan Financial fell 0.43 percent, while KB Financial collected 0.34 percent, Hana Financial dipped 0.33 percent, Samsung Electronics surged 4.77 percent, Samsung SDI rallied 2.82 percent, LG Electronics improved 0.76 percent, SK Hynix shed 0.57 percent, Naver sank 0.85 percent, LG Chem jumped 1.69 percent, Lotte Chemical lost 0.76 percent, SK Innovation perked 0.19 percent, POSCO Holdings dropped 0.88 percent, SK Telecom slumped 0.72 percent, KEPCO advanced 0.98 percent, Hyundai Mobis strengthened 1.46 percent, Hyundai Motor accelerated 1.87 percent and Kia Motors rose 0.30 percent.

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U.S. Dollar Declines Amid Rate Cut Hopes

The U.S. dollar weakened against its major counterparts in the New York session on Monday, amid growing expectations of future rate cuts from the Federal Reserve.

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Singapore Inflation Data Due On Tuesday

Singapore will on Tuesday release August numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In July, overall inflation was down 0.5 percent on month and up 0.6 percent on year, while core CPI rose an annual 0.5 percent,

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Swiss Market Settles Marginally Up

The Switzerland market ended marginally up on Monday, despite struggling a bit early on in the session, and then for a few minutes in the final hour.

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EURUSD	1.17978	GBPUSD	1.35128	AUDUSD	0.65972
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