China Bourse Tipped To Open In The Green

(RTTNews) - The China stock market has moved higher in consecutive trading days, improving almost 35 points or 1 percent along the way. The Shanghai Composite Index now rests just beneath the 3,375-point plateau and it's looking at a higher open again on Wednesday.

The global forecast for the Asian markets is mixed to higher on better-than-expected inflation data. The European and U.S. markets were mostly higher and the Asian bourses figure to follow that lead.

The SCI finished slightly higher on Tuesday following gains from the financial shares and energy companies, while the property sector was mixed.

For the day, the index rose 5.63 points or 0.17 percent to finish at 3,374.87 after trading between 3,370.25 and 3,386.23. The Shenzhen Composite Index dipped 3.90 points or 0.19 percent to end at 2,000.23.

Among the actives, Industrial and Commercial Bank of China climbed 0.98 percent, while Bank of China increased 0.71 percent, Agricultural Bank of China spiked 1.99 percent, China Merchants Bank rallied 1.74 percent, Bank of Communications advanced 0.92 percent, China Life Insurance collected 0.05 percent, Jiangxi Copper dipped 0.18 percent, Yankuang Energy jumped 1.77 percent, PetroChina improved 0.74 percent, China Petroleum and Chemical (Sinopec) added 0.53 percent, Huaneng Power was up 0.13 percent, China Shenhua Energy strengthened 1.27 percent, Gemdale sank 0.72 percent, China Vanke perked 0.15 percent and Poly Developments and Aluminum Corp of China (Chalco) were unchanged.

The lead from Wall Street is mixed as the Dow opened in the red and remained there throughout, while the NASDAQ and S&P 500 were in positive territory from start to finish.

The Dow slumped 269.67 points or 0.64 percent to finish at 42,140.43, while the NASDAQ surged 301.74 points or 1.61 percent to close at 19,010.08 and the S&P 500 gained 42.36 points or 0.72 percent to end at 5,886.55.

The continued strength in the broader markets followed the release of a Labor Department report showing consumer prices in the U.S. rose less than expected in April.

The slightly tamer-than-expected inflation data eased concerns about President Donald Trump's new tariffs on U.S. trade partners leading to higher prices.

Meanwhile, a steep drop by shares of UnitedHealth (UNH) weighed on the Dow, with the healthcare giant plunging by 17.8 percent after the company suspended its full-year guidance.

Crude oil prices showed another significant move to the upside on Tuesday, reaching its highest closing level in almost a month on optimism about the outlook for demand. West Texas Intermediate crude for June delivery surged $1.72 or 2.8 percent to $63.67 a barrel.