The Hong Kong stock market has finished lower now in consecutive trading days, surrendering almost 60 points or 0.3 percent along the way. The Hang Seng Index finished just below the 20,700-point plateau, and now investors are looking for a positive if mild bounce when the market opens on Wednesday.
The global forecast for the Asian markets suggests a mixed performance but little movement following reports that Greek officials have made progress on reaching an agreement to enact the reforms needed to receive a new bailout. The price of oil also is rising on continued concerns in Syria and the surrounding area. The European markets finished mixed but little changed and the U.S. bourses ended slightly higher - and the Asian markets are expected to split the difference.
The Hang Seng finished barely lower on Tuesday, nudged into the red by losses from the shipping companies and the property stocks.
For the day, the index eased 10.75 points or 0.05 percent to finish at 20,699.19 after trading between 20,649.27 and 20,881.85 on volume of 61.42 billion Hong Kong dollars.
Among the decliners, China Merchants shed 3.3 percent, while China Shipping Container Lines eased 0.4 percent, Orient Overseas lost 0.6 percent and China Overseas Land fell 1.0 percent.
The lead from Wall Street is cautiously optimistic as stocks ended the day modestly higher on Tuesday after showing a notable move to the downside in early trading. Buying interest remained relatively subdued, however, limiting the upside for the markets.
The turnaround followed reports that Greek officials have made progress on reaching an agreement to enact the reforms needed to receive a new bailout. Indications that officials were struggling to reach an agreement, potentially putting Greece on track for a chaotic default, contributed to the initial weakness among stocks.
Traders also kept an eye on Federal Reserve Chairman Ben Bernanke's testimony before the Senate Banking Committee, although the Fed chief's prepared remarks were unchanged from last week's comments delivered before the House Budget Committee. In the question and answer session, Bernanke reiterated that easy monetary policy is still necessary to drive unemployment down from 8.3 percent in January.
On the economic front, the Federal Reserve reported a much bigger than expected increase in consumer credit in the month of December, with the increase reflecting another jump in non-revolving credit such as car loans.
Among individual stocks, Yum! Brands (YUM) advanced by 2.6 percent after reporting fourth quarter earnings that rose year-over-year and came in just above analyst estimates. The company, which owns the Pizza Hut, Taco Bell and KFC fast-food chains, also said it is well-positioned to meet or exceed its annual target of at least 10 percent earnings growth in 2012.
Beverage giant Coca-Cola (KO) also ended the day higher after reporting fourth quarter earnings that fell sharply year-over-year but came in above analyst estimates. The company's year-ago results included a gain related to the acquisition of its North American bottling operations.
While the NASDAQ briefly dipped into the red in late day trading, the major averages all closed in positive territory. The Dow rose 33.07 points or 0.3 percent to finish at 12,878.20, while the NASDAQ edged up 2.09 points or 0.1 percent to 2,904.08 and the S&P 500 climbed 2.72 points or 0.2 percent to 1,347.05.
In economic news, the Ministry of Industry and Information Technology said on Tuesday that China's industrial production may slow this quarter due to global economic slowdown. The ministry reiterated that it targets an industrial production growth of 11 percent this year. Last year, output grew 13.9 percent. China's industry is facing an increasingly complicated domestic and international environment with increased unstable and uncertain factors, the ministry said.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.