Market Analysis Hong Kong Anticipated to Open with Gains on Tuesday

On Monday, one session after ending its three-day winning streak during which it had risen by about 600 points or 3.3 percent, the Hong Kong stock market rebounded higher once more. The Hang Seng Index is currently just above the 18,130-point threshold, and Tuesday looked like another profitable day for it.

On the basis of an improved prognosis for the economy and the outlook for interest rates, the worldwide forecast for the Asian markets is optimistic. The Asian bourses are anticipated to open in a similar vein to how the European and American markets opened.

For the day, the index soared 174.36 points or 0.97 percent to finish at 18,130.74 after trading between 18,113.23 and 18,564.43.

Shares Percentage
ENN Energy 5.63 ⬇️
Lenovo Group 2.99 ⬆️
New Word Development 2.82 ⬆️
Alibaba Health Information 2.64 ⬆️
Haier Smart Phone 1.39 ⬆️
WuXi Biologics 2.03 ⬆️
Meituan 1.89 ⬆️
CSPC Pharmacy 1.72 ⬆️
ANTA Sports 1.60 ⬇️
Alibaba Group 1.60 ⬆️
Country Garden Services 1.53 ⬆️
Industrial and Commercial Bank of China Industry 1.45 ⬆️
Hang Lung Properties 1.13 ⬇️
Techtronic Industries 0.91 ⬆️
China Life 0.88 ⬆️ 0.85 ⬆️
Xiaomi Corporation 0.83 ⬆️
CNOOC 0.62 ⬇️
China Mengniu Dairy and Galaxy Entertainment 0.60 ⬆️
Li Ning 0.27 ⬇️
China Resources Land 0.16 ⬆️
CITIC 0.13 ⬆️
Hong Kong & China Gas and Henderson Land

The lead from Wall Street is positive as the major averages opened higher on Monday, ebbed and flowed throughout the session but still ended solidly in positive territory.

The Dow jumped 213.08 points or 0.62 percent to finish at 34,559.98, while the NASDAQ spiked 114.48 points or 0.84 percent to close at 13,705.13 and the S&P 500 rallied 27.60 points or 0.63 percent to end at 4,433.31.

China’s stimulus programme, designed to calm market turbulence and promote economic growth, was the cause of the higher opening. In order to support the country’s equities markets and encourage expenditure, Chinese authorities unveiled a series of initiatives over the weekend. In addition, the number of initial public offerings was slowed down, with stamp duty on stock trades being cut in half.

After Fed Chair Jerome Powell reiterated the central bank’s commitment to bringing inflation back to the 2 percent target last week in Jackson Hole and expressed confidence in ongoing economic growth, the markets also maintained their momentum.

The belief that severe weather conditions this week may have an impact on energy operations along Florida’s Gulf Coast led to a little increase in crude oil prices on Monday. The price of October West Texas Intermediate Crude oil futures increased by $0.27, or 0.3 percent, to close at $80.10 a barrel.

- Published By Team Hongkong Journalist

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