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Win Streak May Continue For China Stock Market

The China stock market has climbed higher in three straight sessions, gathering almost 80 points or 3.3 percent along the way. The Shanghai Composite Index now rests just above the 2m760-point plateau and it may add to its winnings again on Thursday.

The global forecast for the Asian markets suggests mild upside, nudged into the green by support from crude oil prices. The European and U.S. markets were up and the Asian markets are tipped to open in similar fashion.

The SCI finished slightly higher on Wednesday as gains from the insurance and oil companies were sapped by weakness from the financial sector.

For the day, the index added 5.57 points or 0.20 percent to finish at 2,761.22 after trading between 2,739.98 and 2,767.41. The Shenzhen Composite Index picked up 4.64 points or 0.32 percent to end at 1,448.24.

Among the actives, Industrial and Commercial Bank of China tumbled 2.45 percent, while Bank of China dropped 1.08 percent, China Construction Bank skidded 1.97 percent, China Life Insurance surged 8.12 percent, Ping An Insurance climbed 1.32 percent, PetroChina added 0.66 percent, China Petroleum and Chemical gained 0.68 percent and China Shenhua Energy dipped 0.45 percent.

The lead from Wall Street is cautiously optimistic as stocks continued to experience choppy trading, bouncing back and forth across the unchanged line before ending slightly higher.

The Dow added 63.12 points or 0.24 percent to 25,954.44, while the NASDAQ gained 2.30 points or 0.03 percent to 7,489.07 and the S&P rose 4.94 points or 0.18 percent to 2,784.70.

The choppy trading came as traders digested the minutes of the latest Federal Reserve meeting, which provided further insight into the central bank's decision to change its forward guidance and indicate a patient approach to raising interest rates.

The minutes also showed officials discussed a plan to end the reduction of bonds on the Fed's balance sheet before the end of 2019

Traders also seemed reluctant to make significant moves as they wait for developments regarding the latest round of trade talks between the U.S. and China. Officials from the U.S. and China are meeting in Washington this week as the world's two largest economies attempt to reach a long-term trade deal.

Brent crude soared 63 cents or 0.95 percent to a fresh 2019 high of $67.08 dollars per barrel, while U.S. West Texas Intermediate (WTI) crude oil surged 77 cents or 1.36 percent to $57.22 - also high for this year.

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