Hong Kong Stock Market Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in two straight sessions, advancing more than 360 points or 2 percent along the way. The Hang Seng Index now sits just above the 18,480-point plateau and it's likely to add to its winnings on Wednesday.

The global forecast for the Asian markets is upbeat thanks to an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.

The Hang Seng finished sharply higher on Tuesday with gains across the board, especially among the property, finance and technology sectors.

For the day, the index surged 353,29 points or 1.95 percent to finish at 18,484.03 after trading between 18,239.92 and 18,583.80.

Among the actives, Alibaba Group strengthened 2.25 percent, while Alibaba Health Info jumped 2.78 percent, ANTA Sports gained 1.10 percent, China Life Insurance rallied 2.95 percent, China Mengniu Dairy climbed 1.80 percent, China Resources Land soared 4.23 percent, CITIC spiked 3.52 percent, CNOOC added 1.40 percent, Country Garden skyrocketed 9.88 percent, CSPC Pharmaceutical strengthened 1.86 percent, ENN Energy surged 4.35 percent, Galaxy Entertainment advanced 1.69 percent, Hang Lung Properties rose 0.76 percent, Henderson Land climbed 1.65 percent, Hong Kong & China Gas improved 1.58 percent, Industrial and Commercial Bank of China collected 2.28 percent, JD.com rallied 2.06 percent, Lenovo gathered 0.72 percent, Li Ning spiked 2.70 percent, Meituan jumped 1.93 percent, New World Development surged 4.16 percent, Techtronic Industries soared 2.80 percent, Xiaomi Corporation improved 1.48 percent and WuXi Biologics advanced 1.55 percent.

The lead from Wall Street is broadly positive as the major averages opened slightly higher on Tuesday but accelerated as the day progressed, ending near session highs.

The Dow jumped 292.69 points or 0.85 percent to finish at 34,852.67, while the NASDAQ surged 238.63 points or 1.74 percent to end at 13,943.76 and the S&P 500 rallied 64.32 points or 1.45 percent to close at 4.497.63.

The strength on Wall Street came as the latest batch of U.S. economic data helped ease recent concerns about the outlook for interest rates.

Consumer confidence in the U.S. deteriorated more than anticipated in August, according to a report released by the Conference Board. Also, the Labor Department said job openings in the U.S. decreased to 8.8 million on the last business day of July.

Oil prices climbed higher on Tuesday with traders weighing the likely impact of the Hurricane Idalia on energy operations in the Gulf of Mexico, while a weak dollar also contributed to the uptick. West Texas Intermediate Crude oil futures for October climbed $1.06 or 1.3 percent at $81.16 a barrel.