Rebound Anticipated For Hong Kong Stock Market
(RTTNews) - The Hong Kong stock market headed south again on Wednesday, one day after snapping the two-day slide in which it had dropped more than 350 points or 1.4 percent. The Hang Seng now sits just above the 24,315-point plateau although it may bounce higher again on Thursday.
The global forecast for the Asian markets is positive, with technology and energy stocks expected to lead the way higher. The European and U.S. markets were up and the Asian bourses are expected to follow that lead.
The Hang Seng finished modestly lower on Wednesday following losses from the technology, automobile, property and mining sectors
For the day, the index tumbled 241.12 points or 0.98 percent to finish at 24,315.92 after trading between 24,268.96 and 24,430.69.
The lead from Wall Street is firm as the major averages opened mixed on Wednesday but trended to the upside throughout the day, finishing firmly in the green.
The Dow gained 254.60 points or 0.49 percent to finish at 52,486.49, while the NASDAQ rallied 400.31 points or 1.60 percent to end at 25,466.19 and the S&P 500 jumped 98.45 points or 1.31 percent to close at 7,619.38.
Technology stocks have helped lead the markets back to upside amid a positive reaction to better-than-expected quarterly results from neocloud company CoreWeave (CRWV).
Semiconductor stocks showed a strong move to the upside, driving the Philadelphia Semiconductor Index up by 5.7 percent, while energy stocks also provided support.
Crude oil prices advanced on Wednesday after strong remarks by Iranian leaders against the U.S. diminished expectations of an early reopening of the Strait of Hormuz. West Texas Intermediate crude for December delivery was up $0.96 or 1.12 percent at $87.00 per barrel.
Australian Market Extends Early Losses In Mid-market
Asian Markets Track Wall Street Higher
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Higher Open Called For Thai Stock Market
Japanese Market Modestly Higher
Indonesia Stock Market May Reverse Wednesday's Losses
Australian Market Notably Lower
