The Hong Kong stock market has moved higher in back-to-back sessions, advancing almost 100 points or 0.5 percent along the way. The Hang Seng Index now rests just above the 22,355-point plateau, and the market is looking at another upbeat open on Tuesday.
The global forecast for the Asian markets is positive thanks to a jump in the price of crude oil. The European and U.S. markets were firmly higher, and the Asian bourses figure to follow suit.
The Hang Seng finished barely higher on Monday as gains from the insurance companies and casinos were offset by weakness from the financial shares and utilities.
For the day, the index picked up 13.57 points or 0.06 percent to finish at 22,357.78 after trading between 22,227.80 and 22,480.75.
Among the actives, China Life surged 4.96 percent, while Li & Fung plunged 3.72 percent, Ping An spiked 3.34 percent, Sands China advanced 3.25 percent, Galaxy Entertainment perked 1.67 percent, Hong Kong & China Gas slid 1.24 percent, Sino Land climbed 1.07 percent, CITIC Limited jumped 1.03 percent, Lenovo Group collected 0.63 percent, CNOOC fell 0.41 percent, PetroChina jumped 1.08 percent, Industrial and Commercial Bank of China added 0.22 percent and HSBC slid 0.49 percent.
The lead from Wall Street is upbeat as stocks moved higher on Monday, pushing the major averages to new record closing highs.
The Dow rose 88.76 points or 0.5 percent to 18,956.69, while the NASDAQ advanced 47.35 points or 0.9 percent to 5,368.86 and the S&P added 16.28 points or 0.8 percent to 2,198.18.
A sharp increase in the price of crude oil contributed to the strength, with crude for December delivery jumping $1.80 to $47.49 a barrel. The price benefited from optimism that OPEC members will agree to reduce output at a meeting next week.
News on the merger-and-acquisition front also generated some buying interest, although trading activity was subdued ahead of the Thanksgiving Day holiday.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.