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Hong Kong Bourse May Add To Its Winnings

The Hong Kong stock market has finished higher in three straight sessions, gathering more than 810 points or 3.2 percent along the way. The Hang Seng Index now rests just above the 25,875-point plateau and it's tipped to extend its gains on Wednesday.

The global forecast for the Asian markets is positive on trade optimism and surging crude oil prices. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.

The Hang Seng finished slightly higher on Tuesday as gains from the properties and oil companies were capped by weakness from the insurance stocks and a mixed picture from the financials.

For the day, the index collected 39.75 points or 0.15 percent to finish at 25,875.45 after trading between 25,688.50 and 25,960.89.

Among the actives, AAC Technologies surged 3.56 percent, while WH Group soared 3.48 percent, New World Development spiked 3.14 percent, Ping An Insurance tumbled 1.19 percent, China Resources Land skidded 1.17 percent, AIA Group jumped 1.11 percent, China Mengniu Dairy climbed 1.09 percent, BOC Hong Kong advanced 0.71 percent, China Mobile gathered 0.64 percent, Tencent Holdings dropped 0.63 percent, CNOOC perked 0.48 percent, China Life Insurance shed 0.48 percent, Hong Kong & China Gas added 0.37 percent, Industrial and Commercial Bank of China lost 0.36 percent, CSPC Pharmaceutical gained 0.35 percent, Galaxy Entertainment fell 0.31 percent, Sands China rose 0.30 percent and China Petroleum and Chemical (Sinopec) was up 0.17 percent.

The lead from Wall Street is upbeat as stocks opened higher on Tuesday; they gave back some of those gains as the day progressed but still ended firmly in the green.

The Dow added 256.10 points or 1.09 percent to 23,787.45, while the NASDAQ gained 73.53 points or 1.08 percent to 6,897.00 and the S&P rose 24.72 points or 0.97 percent to 2,574.41.

Optimism about trade talks between the U.S. and China contributed to the early rally on Wall Street amid a second day of meetings between U.S. and Chinese officials.

A quiet day on the U.S. economic front also kept some traders on the sidelines amid the ongoing government shutdown.

Crude oil prices moved up sharply on Tuesday, extending gains to a seventh successive session on optimism about U.S.-China trade discussions and reports of output cuts by oil producers. Crude oil futures for February were up $1.26 or 2.6 percent at $49.78 a barrel.

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