Hong Kong Bourse Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has climbed higher in back-t-back sessions, collecting almost 190 points or 1 percent along the way. The Hang Seng Index now sits just above the 19,550-point plateau and it's expected to open to the upside again on Tuesday.

The global forecast for the Asian markets suggests mild upside, supported by strength from the technology stocks. 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 modestly higher on Monday following gains from the financial shares, property stocks and technology companies.

For the day, the index advanced 126.68 points or 0.65 percent to finish at 19,550.29 after trading between 19,387.20 and 19,690.22. Among the actives, Alibaba Group rose 0.42 percent, while Alibaba Health Info gained 0.55 percent, ANTA Sports climbed 1.69 percent, China Life Insurance increased 1.36 percent, China Mengniu Dairy strengthened 2.00 percent, China Resources Land added 1.09 percent, CITIC advanced 1.62 percent, CNOOC slid 0.23 percent, CSPC Pharmaceutical and Henderson Land both were up 0.20 percent, Galaxy Entertainment improved 1.59 percent, Haier Smart Home gathered 0.38 percent, Hang Lung Properties accelerated 2.54 percent, Industrial and Commercial Bank of China collected 1.10 percent, JD.com rallied 2.43 percent, Li Auto plummeted 2.58 percent, Li Ning jumped 2.26 percent, Meituan sank 0.77 percent, New World Development spiked 2.80 percent, Nongfu Spring skyrocketed 8.31 percent, Techtronic Industries perked 0.27 percent, Xiaomi Corporation soared 2.88 percent, WuXi Biologics surged 3.33 percent and Hong Kong & China Gas and Lenovo were unchanged.

The lead from Wall Street is cautiously optimistic as the major averages opened mixed and finished the same way.

The Dow slumped 128.65 points or 0.29 percent to finish at 4,4782.00, while the NASDAQ rallied 185.78 points or 0.97 percent to close at a record 19,403.95 and the S&P 500 added 14.77 points or 0.24 percent to end at 6,047.15.

Investors were cautious ahead of a slew of crucial economic data later this week, including reports on private sector and non-farm payroll employment, service sector activity and a reading on consumer sentiment.

In U.S. economic news, the Commerce Department said construction spending increased more than expected in October. Also, the Institute for Supply Management said its reading on U.S. manufacturing increased by more than expected in November but continued to indicate a contraction.

Crude oil prices climbed higher on Monday on possible supply disruptions due to rising tensions on the geopolitical front although the upside was marginal as investors look to Thursday's OPEC meeting. West Texas Intermediate Crude oil futures for January ended up by $0.10 or 0.15 percent at $68.10 a barrel.

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