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Hong Kong Bourse Predicted To Open In The Green

The Hong Kong stock market headed south again on Monday, one session after ending the two-day slide in which it had tumbled almost 650 points or 2.4 percent. The Hang Seng Index now rests just above the 25,810-point plateau although it may move higher again on Tuesday.

The global forecast for the Asian markets suggests mild upside, supported mainly by crude oil prices. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The Hang Seng finished sharply lower on Monday following losses from the casinos and technology stocks, while the properties were mixed.

For the day, the index plunged 392.10 points or 1.50 percent to finish at 25,813.81 after trading between 25,570.84 and 25,886.90.

Among the actives, Sands China cratered 5.46 percent, while Galaxy Entertainment plummeted 5.12 percent, Alibaba Health Info plunged 4.83 percent, Meituan tanked 4.47 percent, Wharf Real Estate tumbled 4.25 percent, Alibaba Group skidded 4.23 percent, ANTA Sports retreated 3.24 percent, Country Garden declined 3.13 percent, Xiaomi Corporation surrendered 2.90 percent, WuXi Biologics sank 2.87 percent, CNOOC surged 2.73 percent, China Petroleum and Chemical (Sinopec) soared 2.34 percent, CITIC spiked 1.53 percent, Longfor dropped 1.53 percent, AIA Group shed 1.10 percent, Sun Hung Kai Properties lost 0.90 percent, Hang Lung Properties jumped 0.89 percent, CSPC Pharmaceutical fell 0.72 percent, Techtronic Industries climbed 0.66 percent, AAC Technologies slid 0.60 percent, CK Infrastructure dipped 0.56 percent, New World Development advanced 0.55 percent, China Mengniu Dairy added 0.52 percent, Industrial and Commercial Bank of China collected 0.22 percent, Hong Kong & China Gas was down 0.16 percent, China Life Insurance rose 0.15 percent, CLP Holdings eased 0.13 percent and China Resources Land and Henderson Land were unchanged.

The lead from Wall Street is mixed as the major averages opened higher on Monday, although the NASDAQ quickly slipped into the red and finished that way. The Dow and the S&P went on to halt five-session slides.

The Dow jumped 261.91 points or 0.76 percent to finish at 34,869.63, while the NASDAQ dipped 9.91 points or 0.07 percent to close at 15,105.58 and the S&P 500 rose 10.15 points or 0.23 percent to end at 4,468.73.

The strength on Wall Street came as traders went bargain hunting following the downward move seen over the past several sessions.

However, the looming Federal Reserve meeting made traders reluctant to make significant moves, with the central bank potentially providing an update on the outlook for its asset purchase program.

The Fed's two-day monetary policy meeting is scheduled for next week, but recent signs of slowing economic momentum could lead the central bank to hold off on discussing tapering.

The price of crude oil showed a notable move to the upside during trading on Monday, reflecting lingering concerns about U.S. supply. After jumping $1.58 or 2.3 percent to $69.72 a barrel last Friday, crude for October delivery climbed $0.73 or 1 percent to $70.45 a barrel.

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