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China Bourse Draws Another Firm Lead For Wednesday

The China stock market has finished higher in four straight sessions, climbing almost 100 points or 4 percent in that span. The Shanghai Composite Index now rests just above the 2,6705-point plateau and it may add to its winnings again on Wednesday.

The global forecast for the Asian markets is upbeat on signs the United States government may avoid another shutdown. The European and U.S. markets were up and the Asian bourses are predicted to follow that lead.

The SCI finished modestly higher on Tuesday following mixed performances from the financials, properties and energy producers.

For the day, the index perked 17.99 points or 0.68 percent to finish at 2,671.89 after trading between 2,648.83 and 2,674.48. The Shenzhen Composite Index advanced 16.21 points or 1.20 percent to end at 1,364.15.

Among the actives, Industrial and Commercial Bank of China added 0.18 percent, while Bank of China collected 0.27 percent, China Construction Bank eased 0.14 percent, China Merchants Bank shed 0.24 percent, China Life Insurance lost 0.66 percent, Ping An Insurance dipped 0.19 percent, PetroChina gained 0.68 percent, China Petroleum and Chemical (Sinopec) slid 0.18 percent, China Shenhua Energy rose 0.50 percent, Gemdale jumped 1.64 percent, Poly Developments was up 0.08 percent, China Vanke fell 0.98 percent and CITIC Securities advanced 0.58 percent.

The lead from Wall Street is broadly positive as stocks moved sharply higher on Tuesday, hitting their best closing levels in two months.

The Dow climbed 372.65 points or 1.49 percent to 25,425,76, the NASDAQ jumped 106.71 points or 1.46 percent to 7,414.62 and the S&P 500 added 34.93 points or 1.29 percent to 2,744.73.

The rally on Wall Street came amid optimism lawmakers will avoid another government shutdown after negotiators reached a tentative agreement on border security. Lawmakers face a deadline of midnight Friday to pass a spending bill and avoid another government shutdown.

Optimism about this week's next round of U.S.-China trade talks also contributed to the strength on Wall Street as President Donald Trump may defer his deadline for raising tariffs.

Crude oil prices surged higher Tuesday on hopes OPEC-led production cuts and the U.S. sanctions on Iran and Venezuela will tighten crude supply in the global market. West Texas Intermediate Crude oil futures for March ended up $0.69 or 1.3 percent at $53.10 a barrel.

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