Hong Kong Shares Likely To Open To The Upside Again On Tuesday

(RTTNews) - The Hong Kong stock market has moved higher in two straight sessions, improving almost 720 points or 2.8 percent along the way. The Hang Seng Index now sits just shy of the 26,350-point plateau and it's expected to move higher again on Tuesday.

The global forecast for the Asian markets is positive, with oil companies expected to lead the way - although profit-taking may creep in late in the day. The European and U.S. markets were up and the Asian bourses figure to at least open in similar fashion.

The Hang Seng finished slightly higher on Monday following mixed performances from the financial shares, property stocks and technology companies.

For the day, the index perked 8.77 points or 0.03 percent to finish at 26,347.24 after trading between 26,256.00 and 26,445.50.

Among the actives, Alibaba Group jumped 2.55 percent, while Alibaba Health Info climbed 2.11 percent, ANTA Sports slumped 1.89 percent, China Life Insurance spiked 3.40 percent, China Mengniu Dairy strengthened 2.41 percent, China Resources Land surged 5.05 percent, CITIC stumbled 2.34 percent, CNOOC plunged 3.29 percent, CSPC Pharmaceutical soared 4.83 percent, Galaxy Entertainment retreated 1.97 percent, Haier Smart Home dipped 0.24 percent, Hang Lung Properties and Hengan International both sank 0.92 percent, Henderson Land skidded 1.80 percent, Hong Kong & China Gas fell 0.42 percent, Industrial and Commercial Bank of China cratered 2.05 percent, JD.com dropped 1.22 percent, Li Auto tanked 2.50 percent, Li Ning expanded 2.69 percent, Meituan added 0.76 percent, New World Development lost 0.54 percent, Nongfu Spring declined 1.95 percent, Techtronic Industries shed 0.76 percent, Xiaomi Corporation tumbled 2.33 percent, WuXi Biologics vaulted 3.01 percent and Lenovo was unchanged.

The lead from Wall Street is firm as the major averages opened higher on Monday and remained in the green throughout the trading day.

The Dow rallied 594.79 points or 1.23 percent to finish at 48,977.18, while the NASDAQ added 160.19 points or 0.69 percent to end at 23,395.82 and the S&P 500 gained 43.58 points or 0.64 percent to close at 6,902.05.

The jump by the Dow reflected a spike by shares of Chevron (CVX), with the energy giant soaring by 5.1 percent. Chevron, which is one of the leading private oil companies in Venezuela, surged following a U.S. attack on the country that led to the capture of President Nicolás Maduro.

The price of crude oil also shot up in reaction to the news, contributing to substantial strength among oil service stocks. The Philadelphia Oil Service Index spiked by 5.5 percent amid optimism about potential gains from rebuilding Venezuela's oil infrastructure.

On the U.S. economic front, the Institute for Supply Management said its reading on U.S. manufacturing activity unexpectedly decreased in December.

Crude oil prices surged on Monday after OPEC reaffirmed its plans to pause production increases for early 2026, thereby allaying oversupply concerns. West Texas Intermediate crude for February delivery was up $58.31 or 0.99 percent at $1.73 per barrel.