Higher Open Anticipated For Hong Kong Shares

(RTTNews) - The Hong Kong stock market has finished higher in three straight sessions, jumping more than 1,050 points or 5.4 percent along the way. The Hang Seng Index now rests just beneath the 20,800-point plateau and it's got a solid lead again for Thursday's trade.

The global forecast for the Asian markets is positive on easing concerns over the outlook for interest rates. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished with huge gains with support across the board, especially among the technology and property stocks.

For the day, the index surged 647.82 points or 3.22 percent to finish at the daily high of 20,793.11 after moving as low as 20,233.39.

Among the actives, Alibaba Group surged 8.74 percent, while Alibaba Health Info skyrocketed 11.28 percent, ANTA Sports gained 0.48 percent, China Life Insurance soared 3.95 percent, China Mengniu Dairy advanced 0.82 percent, China Resources Land accelerated 3.01 percent, CITIC jumped 1.70 percent, CNOOC sank 0.59 percent, Country Garden skyrocketed 11.71 percent, CSPC Pharmaceutical spiked 3.25 percent, Galaxy Entertainment improved 1.21 percent, Henderson Land added 0.72 percent, Hong Kong & China Gas climbed 0.93 percent, Industrial and Commercial Bank of China rallied 1.72 percent, JD.com surged 7.21 percent, Lenovo strengthened 1.39 percent, Li Ning accelerated 2.52 percent, Meituan spiked 2.55 percent, New World Development jumped 1.98 percent, Techtronic Industries rose 0.34 percent, Xiaomi Corporation rallied 2.50 percent, WuXi Biologics soared 5.84 percent and Hang Lung Properties and Nongfu Spring were unchanged.

The lead from Wall Street is upbeat as the major averages shook off early weakness on Wednesday, moved firmly higher midday and ended solidly in the green.

The Dow jumped 133.40 points or 0.40 percent to finish at 33,269.77, while the NASDAQ climbed 71.78 points or 0.69 percent to close at 10,458.76 and the S&P 500 gained 28.83 points or 0.75 percent to end at 3,852.97.

The volatility on the day came as traders awaited and subsequently reacted to the minutes of the Federal Reserve's December monetary policy, which reinforced expectations the central bank is likely to continuing raising interest rates.

The minutes reiterated that officials continue to anticipate that ongoing rate increases would be appropriate - although perhaps slower - to achieve the Fed's dual objectives of maximum employment and price stability.

On the U.S. economic front, the Institute for Supply Management released a report showing U.S. manufacturing activity contracted at a slightly faster rate in the month of December.

Oil prices fell on Wednesday, extending recent losses as worries about energy demand amid rising fears of a global recession continued to weigh on the commodity. West Texas Intermediate Crude oil futures for February ended down $4.09 or 5.3 percent at $72.84 a barrel.