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Lower Open Tipped For Hong Kong Stock Market

The Hong Kong stock market has climbed higher in back-to-back trading days, advancing more than 525 points or 2 percent along the way. The Hang Seng Index now rests just above the 26,180-point plateau, although investors may cash in on Monday.

The global forecast for the Asian markets is mixed and flat amid renewed concerns about the United Kingdom's withdrawal from the European Union. The European markets were down and the U.S. bourses were mixed and little changed - and the Asian markets figure to split the difference.

The Hang Seng finished modestly higher on Friday following gains from the financial shares, oil companies and properties.

For the day, the index added 80.19 points or 0.31 percent to finish at 26,183.53 after trading between 25,850.04 and 26,197.31.

Among the actives, BOC Hong Kong surged 2.20 percent, while China Resources Land soared 1.60 percent, China Petroleum and Chemical (Sinopec) spiked 1.52 percent, Galaxy Entertainment plunged 1.49 percent, China Life jumped 1.43 percent, Hong Kong & China Gas tumbled 1.17 percent, CNOOC climbed 1.08 percent, China Mengniu Dairy gathered 1.01 percent, Sands China dropped 0.92 percent, Tencent Holdings perked 0.83 percent, AIA Group advanced 0.62 percent, WH Group declined 0.62 percent, New World Development added 0.57 percent, Industrial and Commercial Bank of China collected 0.37 percent, CSPC Pharmaceutical shed 0.23 percent and Ping An Insurance fell 0.19 percent.

The lead from Wall Street is murky as stocks showed a lack of direction on Friday, bouncing back and forth across the unchanged line before ending mixed.

The Dow added 123.95 points or 0.49 percent to 25,413.22, while the NASDAQ fell 11.16 points or 0.15 percent to 7,247.87 and the S&P gained 6.07 points or 0.22 percent to 2,736.27. For the week, the Dow shed 2.2 percent, the NASDAQ lost 2.1 percent and the S&P 500 fell 1.6 percent.

The choppy trade on Wall Street came as traders seemed reluctant to make significant moves amid lingering uncertainty about the global economic outlook and renewed anxiety about Brexit.

Buying interest was generated in mid-day trading, as President Donald Trump told reporters China "wants to make a deal" on trade - although White House officials said not read too much into the president's claims.

Crude oil futures ended flat on Friday on worries about excess supply globally and weak demand outlook. Crude oil futures for December ended at $56.46 a barrel, unchanged from previous close. For the week, oil futures shed 6.2 percent, recording a sixth successive weekly loss.

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