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Hong Kong Shares May Bounce Higher Again On Tuesday

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us

The Hong Kong stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had rallied almost 550 points or 2.2 percent. The Hang Seng Index now rests just above the 25,660-point plateau and it's poised to open to the upside on Tuesday.

The global forecast for the Asian markets is cautiously optimistic, with energy and technology stocks expected to provide support. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

The Hang Seng finished modestly lower on Monday following losses from the financial shares, property stocks and technology companies.

For the day, the index tumbled 232.69 points or 0.90 percent to finish at 25,660.85 after trading between 20,868.36 and 28,056.10.

Among the actives, AIA skidded 1.74 percent, while Alibaba Group declined 1.83 percent, Baidu lost 1.10 percent, BOC Hong Kong contracted 1.80 percent, BYD surged 4.95 percent, China Construction Bank was down 0.36 percent, China Life Insurance dipped 0.37 percent, China Merchants Bank eased 0.56 percent, China Petroleum & Chemical climbed 0.86 percent, China Shenhua Energy jumped 0.89 percent, CITIC improved 0.79 percent, CNOOC added 0.45 percent, HSBC and Hong Kong Exchange both slid 0.64 percent, Industrial and Commercial Bank of China perked 0.14 percent, JD.com advanced 0.81 percent, Meituan sank 1.31 percent, NetEase dropped 1.51 percent, Nongfu Spring shed 1.27 percent, PetroChina rallied 1.57 percent, Ping An Insurance slumped 1.75 percent, Semiconductor Manufacturing retreated 1.89 percent, Sun Hung Kai Properties tumbled 2.09 percent, Tencent Holdings plummeted 2.87 percent, Xiaomi Corporation slipped 0.78 percent, WuXi AppTec fell 1.00 percent, Zijin Mining gained 0.33 percent and Bank of China and China Mobile were unchanged.

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