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Hong Kong Stock Market Has A Green Light

The Hong Kong stock market has finished higher in two of three volatile sessions since the end of the two-day slide in which it had fallen more than 950 points or 3.3 percent. The Hang Seng Index now rests just beneath the 28,270-point plateau, and it's called higher again on Thursday.

The global forecast for the Asian markets is positive on global trade optimism and rising crude oil prices. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The Hang Seng finished modestly higher on Wednesday following gains from the financials and casinos, while the properties and oil companies were mixed.

For the day, the index climbed 146.69 points or 0.52 percent to finish at 28,268.71 after trading between 28,171.32 and 28,441.49.

Among the actives, WH Group surged 5.14 percent, while AIA Group soared 2.25 percent, Techtronic Industries spiked 1.79 percent, CITIC tumbled 1.47 percent, CSPC Pharmaceutical jumped 1.46 percent, Ping An Insurance and CNOOC both climbed 1.37 percent, AA Technologies gathered 1.32 percent, Sands China perked 1.27 percent, Tencent Holdings advanced 0.92 percent, Galaxy Entertainment added 0.87 percent, Industrial and Commercial Bank of China collected 0.55 percent, New World Development shed 0.49 percent, China Petroleum and Chemical (Sinopec) lost 0.36 percent, China Mobile fell 0.35 percent, China Mengniu Dairy gained 0.34 percent, Hong Kong & China Gas slid 0.11 percent and China Life Insurance and BOC Hong Kong were unchanged.

The lead from Wall Street is upbeat as stocks shook off initial weakness and moved mostly higher on Wednesday, continuing to recover from Monday's sell-off.

The Dow added 115.97 points or 0.45 percent to end at 25,648.02, while the NASDAQ jumped 87.65 points or 1.13 percent to 7,822.15 and the S&P 500 rose 16.55 points or 0.58 percent to 2,850.96.

The strength on Wall Street reflected a positive reaction to reports President Donald Trump plans to delay imposing steep tariffs on auto imports. Reports indicated Trump plans to delay imposing the auto tariffs by up to six months in order to allow negotiations to continue.

Stocks initially came under pressure a Commerce Department showing an unexpected pullback in U.S. retail sales in April. Negative sentiment was also generated by a Federal Reserve report showing an unexpected drop in industrial output in April.

Crude oil futures inched higher on Wednesday, despite data from the Energy Information Administration that showed an unexpected increase in U.S. crude stockpiles last week. West Texas Intermediate Crude oil futures for June ended up $0.24 at $62.02 a barrel.

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