Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market had moved lower in three straight sessions, shedding more than 450 points or 1.6 percent along the way. The Hang Seng Index now sits just beneath the 26,830-point plateau although it's expected to halt its slide on Thursday.

The global forecast for the Asian markets is upbeat on optimism over the outlook for interest rates, and on support from technology shares. The European and U.S. markets were mostly up and the Asian bourses figure to follow that lead.

The Hang Seng finished modestly lower on Wednesday following losses from the financial shares and mixed performances from the properties and technology stocks. For the day, the index slumped 128.31 points or 0.48 percent to finish at 26,829.46 after trading between 26,517.45 and 26,906.20. Among the actives, Alibaba Group tumbled 1.61 percent, while Alibaba Health Info rallied 1.84 percent, ANTA Sports plunged 2.24 percent, China Life Insurance slid 0.37 percent, China Mengniu Dairy slumped 1.11 percent, China Resources Land sank 0.48 percent, CITIC rose 0.18 percent, CNOOC and Hang Lung Properties both retreated 1.39 percent, CSPC Pharmaceutical climbed 1.24 percent, Galaxy Entertainment and Li Auto both dropped 0.83 percent, Haier Smart Home improved 0.96 percent, Henderson Land dipped 0.22 percent, Hong Kong & China Gas gained 0.44 percent, Industrial and Commercial Bank of China skidded 1.06 percent, JD.com declined 1.17 percent, Lenovo jumped 1.74 percent, Li Ning advanced 1.17 percent, Meituan stumbled 1.80 percent, New World Development surged 3.75 percent, Nongfu Spring shed 0.47 percent, Techtronic Industries added 0.64 percent and Xiaomi Corporation and WuXi Biologics were unchanged.

The lead from Wall Street is fairly positive as the major averages opened mixed on Wednesday but moved generally higher through the day, although the Dow slipped back under water at the close.

The Dow eased 1.20 points or 0.00 percent to finish at 46,601.78. while the NASDAQ jumped 255.01 points or 1.12 percent to close at 23,043.38 and the S&P 500 gained 39.13 points or 0.58 percent to end at 6,753.72.

The strength on Wall Street reflected a notable advance by shares of AI darling Nvidia (NVDA), which surged to a record high on reports of increased demand.

Stocks saw continued strength even after the minutes of the Federal Reserve's September revealed participants expressed a range of views about the likely future path of monetary policy.

Most judged that it likely would be appropriate to ease policy further over the remainder of this year, the Fed said, although some noted financial conditions warrant a cautious approach in the consideration of future policy changes.

Crude oil surged on Wednesday, extending gains from the past two sessions after OPEC said it would affect only a modest hike in production next month. West Texas Intermediate crude for November delivery was up $0.89 or 1.44 percent at $62.62 per barrel.