Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market rebounded on Thursday, one day after ending the two-day winning streak in which it had picked up more than 775 points or 2.8 percent. The Hang Seng Index now rests just above the 25,960-point plateau and it's got a solid lead for Friday's trade.

The global forecast for the Asian markets is positive, with oil and technology stocks expected to lead the markets higher. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished modestly higher on Thursday following gains from the financial shares, property stocks and technology companies.

For the day, the index improved 186.21 points or 0.72 percent to finish at 25,967.98 after trading between 25,591.66 and 26,080.84.

Among the actives, Alibaba Group accelerated 1.67 percent, while Alibaba Health Info slumped 1.17 percent, ANTA Sports added 0.69 percent, China Life Insurance collected 0.90 percent, China Mengniu Dairy gained 0.42 percent, China Resources Land gathered 0.34 percent, CITIC vaulted 0.87 percent, CNOOC soared 2.15 percent, CSPC Pharmaceutical stumbled 2.96 percent, Galaxy Entertainment strengthened 1.01 percent, Haier Smart Home was up 0.08 percent, Hang Lung Properties increased 0.80 percent, Henderson Land climbed 0.95 percent, Hong Kong & China Gas advanced 0.84 percent, Industrial and Commercial Bank of China spiked 1.68 percent, JD.com rallied 1.50 percent, Lenovo improved 0.81 percent, Li Auto jumped 1.22 percent, Li Ning skyrocketed 6.55 percent, Meituan surged 4.06 percent, Nongfu Spring rose 0.37 percent, Techtronic Industries perked 0.31 percent, Xiaomi Corporation expanded 0.86 percent, WuXi Biologics dropped 0.89 percent and New World Development was unchanged.

The lead from Wall Street is upbeat as the major averages opened slightly higher and trended generally to the upside throughout the session.

The Dow climbed 144.20 points or 0.31 percent to finish at 46,734.61, while the NASDAQ jumped 201.40 point or 0.89 percent to close at 22,941.80 and the S&P 500 added 39.04 points or 0.58 percent to end at 6,738.44.

The slow start on Wall Street followed mixed corporate earnings news as companies like Tesla (TSLA) and IBM Corp. (IBM) disappointed but Honeywell (HON) beat the street.

Crude oil surged on Thursday, extending gains from the past two sessions, as the U.S. imposed sanctions against Russian oil majors. West Texas Intermediate crude for December delivery was up $3.22 or 5.50 percent at $61.72 per barrel.

Reflecting the strength in the energy sector, the Philadelphia Oil Service Index spiked 4.8 percent and the NYSE Arca Oil Index jumped 3.0 percent.

Substantial strength was also visible among computer hardware stocks, as reflected by the 4.0 percent surge by the NYSE Arca Computer Hardware Index. Networking, semiconductor and steel stocks also saw considerable strength, while transportation stocks moved to the downside.