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Lower Open Predicted For Hong Kong Bourse

Ahead of Monday's holiday for the Chung Yeung Festival, the Hong Kong stock market had alternated between positive and negative finishes through the last eight trading days since the end of the six-day losing streak in which it had tumbled almost 1,140 points or 3.9 percent. The Hang Seng Index now rests just above the 25,820-point plateau and it's tipped to open in the red again on Tuesday.

The global forecast for the Asian markets is mixed to lower, thanks to ongoing concerns regarding the trade spat between the United States and China. The European markets were up and the U.S. bourses were down and the Asian markets are expected to follow the latter lead.

The Hang Seng finished sharply lower on Friday following losses from the financials, properties, casinos and oil and insurance companies.

For the day, the index tumbled 289.28 points or 1.11 percent to finish at 25,821.03 after trading between 25,612.49 and 26,169.51.

Among the actives, AAC Technologies surged 3.20 percent, while Sun Hung Kai Properties plummeted 2.89 percent, Galaxy Entertainment plunged 2.70 percent, Sands China tumbled 2.34 percent, Techtronic Industries skidded 2.33 percent, BOC Hong Kong retreated 2.08 percent, Henderson Land declined 1.76 percent, CNOOC sank 1.70 percent, Industrial and Commercial Bank of China dropped 1.53 percent, China Petroleum and Chemical (Sinopec) shed 1.53 percent, Hong Kong & China Gas lost 1.43 percent, AIA Group and WH Group both fell 1.41 percent, New World Development and China Mobile both slid 1.14 percent, CSPC Pharmaceutical and China Mengniu Dairy both dipped 0.99 percent, Ping An Insurance eased 0.72 percent and China Life Insurance was down 0.66 percent.

The lead from Wall Street is soft as stocks showed a lack or direction on Monday, bouncing back and forth across the unchanged line before finishing in the red.

The Dow shed 95.70 points or 0.36 percent to 26,478.02, while the NASDAQ lost 26.18 points or 0.33 percent to 7,956.29 and the S&P 500 fell 13.22 points or 0.45 percent to 2,938.79.

The choppy trading on Wall Street came as traders seemed reluctant to make large moves ahead of Thursday's high-level trade talks in Washington. Chinese officials are signaling they're increasingly reluctant to agree to the broad trade deal being pursued by President Donald Trump.

The negotiations come as the trade war continues to hang over the economy, with a survey by the National Association for Business Economics showing 53 percent of economists see trade policy as the key downside risk to the economy.

Crude oil futures failed to hold early gains and ended slightly weak on Monday, despite data that showed a drop in OPEC output in September. West Texas Intermediate Crude oil futures for November ended down $0.06 at $52.75 a barrel after peaking at $54.06 earlier in the day.

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