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Rally May Continue For Hong Kong Bourse

The Hong Kong stock market has finished higher in consecutive trading days, gathering more than 725 points or 2.9 percent along the way. The Hang Seng Index now rests just above the 27,180-point plateau and it's got another positive lead for Tuesday's trade.

The global forecast for the Asian markets is upbeat on easing trade concerns and a jump in crude oil prices. The European and U.S. markets were up and the Asian bourses figure to follow that lead.

The Hang Seng finished sharply higher on Monday following gains from the casinos, financials and oil companies, among others.

For the day, the index surged 675.29 points or 2.55 percent to finish at 27,182.04 after trading between 27,006.83 and 27,259.43.

Among the actives, Sands China skyrocketed 11.96 percent, while WH Group surged 11.73 percent, Galaxy Entertainment soared 9.89 percent, China Life Insurance spiked 4.88 percent, China Petroleum and Chemical (Sinopec) jumped 3.91 percent, AIA Group climbed 3.76 percent, China Mengniu Dairy advanced 3.10 percent, CNOOC gathered 3.01 percent, China Mobile dropped 2.96 percent, Industrial and Commercial Bank of China collected 2.70 percent, New World Development perked 2.47 percent, Ping An Insurance added 2.44 percent, CSPC Pharmaceutical gained 2.15 percent and Hong Kong & China Gas was up 0.89 percent.

The lead from Wall Street is solid as stocks opened sharply higher on Monday before giving back some ground - although the major averages still finished firmly positive.

The Dow added 287.97 points or 1.13 percent to 25,826.43, while the NASDAQ climbed 110.98 points or 1.51 percent to 7,441.51 and the S&P gained 30.20 points or 1.09 percent to 2,790.37.

The initial jump was a positive reaction to the meeting between President Donald Trump and Chinese President Xi Jinping over the weekend. At the meeting, they agreed to a 90-day truce in the escalating trade war between the world's two largest economies as they work to reach a long-term trade deal.

In economic news, the Institute for Supply Management noted an unexpected acceleration in the pace of growth in manufacturing activity in November. A separate report from the Commerce Department showed construction spending unexpectedly edged lower in October.

Crude oil prices rose sharply on Monday amid easing trade tensions after the U.S. and China agreed on a 90-day trade war truce. Crude oil futures for January ended up $2.02 or 4 percent at $52.95 a barrel.

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