Mild Upside Seen For Hong Kong Stock Market

(RTTNews) - The Hong Kong stock market on Monday ended the three-day losing streak in which it had dropped more than 520 points or 2 percent. The Hang Seng Index now rests just above the 26,150-point plateau and it's tipped to open in the green on Tuesday.

The global forecast for the Asian markets is murky, with technology stocks expected to provide a slight bump. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow suit.

The Hang Seng finished sharply higher on Monday following gains from the financial shares and technology stocks, while the property sector was mixed.

For the day, the index rallied 251.71 points or 0.97 percent to finish at 26,158.36 after trading between 25,920.27 and 26,217.12.

Among the actives, Alibaba Group slumped 1.15 percent, while Alibaba Health Info advanced 0.86 percent, ANTA Sports added 0.43 percent, China Life Insurance collected 0.24 percent, China Mengniu Dairy increased 0.50 percent, China Resources Land strengthened 1.28 percent, CITIC jumped 1.41 percent, CNOOC soared 3.49 percent, CSPC Pharmaceutical improved 0.52 percent, Galaxy Entertainment dropped 0.88 percent, Haier Smart Home sank 0.71 percent, Hang Lung Properties shed 0.58 percent, Henderson Land vaulted 1.39 percent, Hong Kong & China Gas dipped 0.14 percent, Industrial and Commercial Bank of China accelerated 2.49 percent, JD.com fell 0.31 percent, Lenovo climbed 1.06 percent, Li Auto rallied 1.44 percent, Li Ning gained 0.41 percent, Meituan rose 0.29 percent, New World Development spiked 3.06 percent, Nongfu Spring expanded 1.36 percent, Techtronic Industries lost 0.50 percent, Xiaomi Corporation surged 3.52 percent and WuXi Biologics stumbled 1.60 percent.

The Dow dropped 226.19 points or 0.48 percent to finish at 47,336.68, while the NASDAQ climbed 109.77 points or 0.46 percent to close at 23,834.72 and the S&P 500 rose 11.77 points or 0.17 percent to end at 6,851.97.

The gain by the tech-heavy NASDAQ reflected a sharp increase by shares of Amazon (AMZN) after it announced a $38 billion agreement with OpenAI. Market leader Nvidia (NVDA) also rallied after software giant Microsoft (MSFT) revealed it has secured export licenses to ship Nvidia chips to the United Arab Emirates.

On the other hand, shares of Merck (MRK) weighed on the Dow, as did Nike (NKE), 3M (MMM) and Chevron (CVX).

In U.S. economic news, the Institute for Supply Management said manufacturing activity unexpectedly contracted at a slightly faster rate in October.

Crude oil prices edged slightly higher on Monday after OPEC agreed to halt production hikes for the first quarter of 2026. West Texas Intermediate crude for December delivery was up $0.07 or 0.11 percent at $61.05 per barrel.