China Shares Tipped To Open In The Green On Tuesday

(RTTNews) - The China stock market has moved lower in back-to-back sessions, dropping almost 40 points or 1.2 percent along the way. The Shanghai Composite Index now sits just above the 3,335-point plateau although it may open to the upside on Tuesday.

The global forecast for the Asian markets is cautiously optimistic, with bargain hunting likely on the menu after heavy selling in the previous sessions. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Monday as losses from the property and resource companies were mitigated by support from the financial sector.

For the day, the index lost 15.56 points or 0.46 percent to finish at 3,335.75 after trading between 3,317.74 and 3,361.74. The Shenzhen Composite Index sank 21.07 points or 1.04 percent to end at 2,005.11.

Among the actives, Industrial and Commercial Bank of China was up 0.15 percent, while Bank of China collected 1.82 percent, China Construction Bank soared 3.64 percent, China Merchants Bank perked 0.16 percent, Agricultural Bank of China climbed 1.57 percent, China Life Insurance shed 0.48 percent, Jiangxi Copper declined 1.87 percent, Aluminum Corp of China (Chalco) retreated 1.58 percent, Yankuang Energy tumbled 2.13 percent, PetroChina spiked 2.60 percent, China Petroleum and Chemical (Sinopec) fell 0.45 percent, Huaneng Power jumped 1.91 percent, China Shenhua Energy rallied 1.37 percent, Gemdale surrendered 2.79 percent, Poly Developments stumbled 2.25 percent and China Vanke dropped 0.98 percent.

The lead from Wall Street is positive as the major averages opened lower on Monday but tracked higher throughout the session to finish mixed.

The Dow jumped 417.86 points or 1.00 percent to finish at 42,001.76, the NASDAQ dipped 23.70 points or 0.14 percent to close at 17,299.29 and the S&P 500 added 30.91 points or 0.55 percent to end at 5,611.85.

The early weakness on Wall Street came amid ongoing concerns about the impact of President Donald Trump's reciprocal tariffs on U.S. trade partners, which are set to begin Wednesday

Traders worry Trump's tariffs and possible retaliatory actions by targeted countries will fuel inflation, keep interest rates elevated and drag down global economic growth.

On the U.S. economic front, MNI Indicators released a report showing an unexpected increase by its reading on Chicago-area business activity in the month of March.

Crude oil prices ticked higher on Monday on concerns that supply may not be able to keep up with demand. West Texas Intermediate for May delivery was up $0.17 or 0.25 percent to $69.53 per barrel.