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Win Streak May Continue For Hong Kong Shares

The Hong Kong stock market has moved higher in back-to-back trading days, gathering more than 210 points or 0.8 percent along the way. The Hang Seng Index now rests just above the 26,145-point plateau and it's expected to open in the green again on Thursday.

The global forecast is positive following the U.S. midterm elections. The European and U.S. markets were solidly higher and the Asian bourses are expected to follow suit.

The Hang Seng finished slightly higher on Wednesday as gains from the properties and casinos were offset by weakness from the oil and insurance companies.

For the day, the index gained 26.73 points or 0.10 percent to finish at 26,147.69 after trading between 25,920.72 and 26,530.87.

Among the actives, Hang Lung Properties surged 2.32 percent, while AIA Group soared 1.76 percent, China Resources Power Holdings plummeted 1,73 percent, WH Group spiked 1.71 percent, Sino Land jumped 1.40 percent, China Mobile tumbled 1.29 percent, Hong Kong & China Gas skidded 0.93 percent, CSPC Pharmaceutical and Sands China both climbed 0.75 percent, BOC Hong Kong dropped 0.67 percent, Tencent Holdings advanced 0.48 percent, Galaxy Entertainment perked 0.44 percent, China Mengniu Dairy gathered 0.39 percent, Industrial and Commercial Bank of China collected 0.37 percent, China Petroleum and Chemical (Sinopec) and CNOOC both shed 0.29 percent, Ping An Insurance lost 0.13 percent, China Life Insurance fell 0,12 percent and New World Development and AAC Technologies were unchanged.

The lead from Wall Street is solid as stocks showed a significant move to the upside on Wednesday, adding to the gains posted in the previous session.

The Dow added 545.29 points or 2.13 percent to 26,180.30, while the NASDAQ jumped 194.79 points or 2.64 percent to 7,570.75 and the S&P gained 58.44 points or 2.12 percent to 2,813.89.

The rally on Wall Street came as the results of the highly anticipated midterm elections on Tuesday came largely in line with expectations.

Democrats are projected to retake control of the House for the first time since 2010 - which will give them subpoena power, potentially leading to numerous investigations of President Donald Trump's administration.

Democrats did not fare as well as in the Senate, as Republicans appear poised to expand their majority in the upper chamber.

Crude oil prices tumbled on Wednesday after data showed a seventh straight weekly rise in U.S. crude inventories. Crude oil futures for December were down $0.54 or 0.9 percent at $61.67 a barrel, the lowest settlement price in nearly eight months.

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