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China Bourse Tipped To Halt Two-Day Slide

The China stock market has ticked lower in back-to-back sessions, retreating more than 15 points or 0.6 percent along the way. The Shanghai Composite Index now rests just beneath the 2,660-point plateau although it may find traction on Wednesday.

The global forecast for the Asian markets is flat to higher ahead of election results in the United States. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The SCI finished slightly lower on Tuesday following weakness from the financials, gains from the properties and mixed performances from the insurance and resource stocks.

For the day, the index sank 6.07 points or 0.23 percent to finish at 2,659.36 after trading between 2,635.32 and 2,660.86.

Among the actives, Gemdale soared 2.16 percent, while Poly Developments spiked 1.79 percent, China Vanke perked 0.42 percent, China Merchants Bank fell 0.43 percent, Bank of China and Industrial and Commercial Bank of China both shed 0.54 percent, China Construction Bank lost 0.71 percent, China Life Insurance dipped 0.26 percent, Ping An Insurance collected 0.33 percent, PetroChina added 0.72 percent, China Petroleum and Chemical (Sinopec) gained 0.47 percent, China Shenhua Energy climbed 1.39 percent, Jiangxi Copper fell 0.44 percent, Yanzhou Coal slid 0.38 percent, Aluminum Corporation of China (Chalco) gained 0.26 percent and Anhui Conch Cement eased 0.29 percent.

The lead from Wall Street is positive as stocks fluctuated on Tuesday but maintained an upward bias and finished in the green.

The Dow added 173.31 points or 0.68 percent to 25,635.01, while the NASDAQ gained 47.11 points or 0.64 percent to 7,375.96 and the S&P was up 17.14 points or 0.63 percent to 2,755.45.

The strength on Wall Street came as stocks continued to recover from the sell-off seen in October, which was one of the worst months for the markets in years.

However, traders seemed reluctant to make more significant moves amid uncertainty about the outcome of the midterm elections - which will decide control of the House and the Senate and have a major impact on President Donald Trump's ability to enact his pro-business agenda.

Traders also looked ahead to Thursday's Federal Reserve's monetary policy announcement. The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about an expected rate hike in December.

Crude oil prices fell again on Tuesday, extending their slide to a seventh successive session on prospects of a drop in demand amid uncertainty about global economic growth. Crude oil futures for December ended down $0.89 or 1.4 percent at $62.21 a barrel.

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