Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had jumped more than 1,000 points or 4.5 percent. The Hang Seng Index now sits just above the 22,000-point plateau and it may add to its winnings on Wednesday.

The global forecast for the Asian markets is positive on optimism ahead of earnings season. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.

The Hang Seng finished slightly higher on Tuesday following gains from the properties and a mixed picture from the technology stocks.

For the day, the index rose 36.15 points or 0.16 percent to finish at 22,008.11 after trading between 21,918.10 and 22,213.51.

Among the actives, Alibaba Group lost 0.17 percent, while Alibaba Health Info skyrocketed 7.16 percent, ANTA Sports dropped 0.44 percent, China Life Insurance collected 0.58 percent, China Mengniu Dairy sank 0.31 percent, China Resources Land declined 1.32 percent, CITIC jumped 0.98 percent, CNOOC tumbled 1.53 percent, CSPC Pharmaceutical climbed 0.83 percent, Galaxy Entertainment improved 0.54 percent, Haier Smart Home gained 0.45 percent, Hang Lung Properties added 0.48 percent, Henderson Land shed 0.23 percent, Hong Kong & China Gas rose 0.29 percent, Industrial and Commercial Bank of China slumped 0.72 percent, JD.com spiked 1.90 percent, Lenovo advanced 0.69 percent, Li Auto accelerated 1.95 percent, Li Ning stumbled 2.53 percent, Meituan surged 2.88 percent, Nongfu Spring retreated 1.94 percent, Techtronic Industries tanked 2.35 percent, Xiaomi Corporation fell 0.11 percent, WuXi Biologics rallied 1.09 percent and New World Development, CKI Holdings and ENN Energy were unchanged.

The lead from Wall Street is upbeat as the major averages opened mixed on Tuesday but trended steadily upward throughout the session to finish with solid gains.

The Dow rallied 300.03 points or 0.75 percent to finish at 40,527.62, while the NASDAQ advanced 95.19 points or 0.55 percent to close at 17,461.32 and the S&P 500 gained 32.08 points or 0.58 percent to end at 5,560.83.

The strength that emerged on Wall Street came amid positive developments on the trade front, with Commerce Secretary Howard Lutnick telling CNBC the Trump administration had reached its first trade deal.

Earlier in the day, traders seemed reluctant to make significant moves ahead of the release of key earnings and economic news in the coming days.

Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT), Visa (V), Eli Lilly (LLY), Chevron (CVX) and Exxon Mobil (XOM) are all due to report earnings this week.

Crude oil futures moved sharply on Tuesday amid ongoing concerns that a weakening U.S. economy and the U.S.-led trade war with partners will hurt energy demand. West Texas Intermediate crude for June delivery plunged $1.63 or 2.6 percent to $60.42 a barrel.