Hong Kong Shares Expected To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in back-to-back trading days, collecting almost 300 points or 1.2 percent along the way. The Hang Seng Index now rests just beneath the 25,950-point plateau and it may see additional support on Thursday.

The global forecast for the Asian markets is murky, with profit taking warring with support from the oil and technology sectors. The European and U.S. markets were mixed and the Asian bourses are expected to behave similarly.

The Hang Seng finished modestly higher on Wednesday following gains from the technology stocks and mixed performances from the property and financial sectors.

For the day, the index gained 75.00 points or 0.29 percent to finish at 25,947.32 after trading between 25,947.32 and 26,216.58.

Among the actives, AIA plummeted 3.62 percent, while Alibaba Group soared 3.29 percent, Baidu spiked 3.06 percent, Bank of China collected 0.39 percent, BOC Hong Kong sank 0.54 percent, China Life Insurance fell 0.29 percent, China Merchants Bank vaulted 1.30 percent, China Mobile dipped 0.18 percent, China Petroleum & Chemical tumbled 1.73 percent, China Shenhua Energy rose 0.13 percent, CITIC advanced 0.77 percent, CNOOC slumped 1.43 percent, Hong Kong Exchange rallied 1.67 percent, HSBC was up 0.28 percent, Industrial and Commercial Bank of China lost 0.57 percent, JD.com surged 4.59 percent, Meituan jumped 1.41 percent, NetEase strengthened 1.37 percent, Nongfu Spring gained 0.21 percent, PetroChina plunged 3.02 percent, Ping An Insurance dropped 1.11 percent, Semiconductor Manufacturing spiked 2.33 percent, Sun Hung Kai Properties added 0.22 percent, Tencent Holdings climbed 1.18 percent, Xiaomi Corporation perked 0.06 percent, WuXi AppTec increased 0.31 percent, Zijin Mining improved 0.74 percent and China Construction Bank was unchanged.

The lead from Wall Street provides little clarity as the major averages opened higher on Wednesday, although the Dow splintered off and finished slightly under water.

The Dow shed 72.27 points or 0.15 percent to finish at 48,463.72, while the NASDAQ jumped 376.93 points or 1.59 percent to end at a record 24,016.02 and the S&P 500 gained 55.57 points or 0.80 percent to close at 7,022.95, also a record.

The extended surge by the NASDAQ reflected strength among tech stocks, with Broadcom (AVGO) helping to lead the sector higher after the chip maker announced a multi-year strategic partnership with Meta's (META).

Traders also expressed optimism about a resolution of the conflict in the Middle East even as they await additional details about another round of peace talks between the U.S. and Iran.

Crude oil edged higher on Wednesday as traders weighed the prospects of success in the upcoming U.S-Iran talks against the ongoing U.S. blockade on all Iranian ports across the Strait of Hormuz, which is keeping the supply concerns alive. West Texas Intermediate crude for May was up $0.36 or 0.39 percent at $91.64 per barrel.