Hong Kong stock market could add to its gains

(RTTNews) – The Hong Kong stock market on Wednesday ended a two-day losing streak in which it plunged more than 600 points or 3%. The Hang Seng is now just above the 20,170 plateau and is eyeing continued support again on Thursday.

Global forecasts for Asian markets are positive, with technology, retail and energy stocks expected to lead higher. European and American markets were up and Asian stock exchanges should follow suit.

The Hang Seng ended slightly higher on Wednesday after gains from oil companies and mixed performance from real estate and technology stocks.

For the day, the index gained 59.17 points or 0.29% to end at 20,171.27 after trading between 20,067.98 and 20,370.74.

Among assets, AAC Technologies fell 1.90%, while Alibaba Group fell 1.50%, Alibaba Health Info fell 1.81%, ANTA Sports fell 0.76%, China Life Insurance fell 0.35%, China Mengniu Dairy gained 0.52%, China Petroleum and Chemical (Sinopec) jumped 2.76%, CITIC rose 1.17%, CNOOC jumped 1.78 %, Country Garden was up 0.87%, CSPC Pharmaceutical was up 1.03%, Galaxy Entertainment was up 0.13%, Hang Lung Properties was down 0.28%, Henderson Land was up 0, 15%, Hong Kong and China. Gas jumped 1.41%, Industrial and Commercial Bank of China collected 0.43%, JD.com fell 1.49%, Lenovo plunged 2.44%, Li Ning fell 3 .06%, Meituan rose 0.06%, New World Development rose 1.20%, Techtronic Industries fell 0.11%. percent, Xiaomi Corporation added 0.54 percent, WuXi Biologics garnered 0.38 percent, and China Resources Land and CK Infrastructure were unchanged.

Wall Street’s advance is bullish as the major averages opened fairly flat on Wednesday and showed little movement in the morning, but accelerated late to finish solidly higher.

The Dow Jones jumped 191.66 points or 0.60% to end at 32,120.28, while the NASDAQ jumped 170.29 points or 1.51% to end at 11,434.74 and the S&P 500 gained 37.25 points or 0.95% to close at 3,978.73.

The higher close on Wall Street came as the minutes of the Federal Reserve’s last meeting offered few surprises, although the central bank indicated that it intended to move quickly to more monetary policy. neutral.

The shift to a more neutral monetary policy comes as the Fed seeks to bring inflation back to its 2% target while maintaining solid labor market conditions.

In economic news, the Commerce Department showed new orders for durable goods rose less than expected in April.

Crude oil futures traded higher on Wednesday, boosted by tight supplies and expectations of higher demand during the summer driving season. West Texas Intermediate crude oil futures for July gained $0.56 or 0.5% to $110.33 a barrel.

Closer to home, Hong Kong will release April figures for imports, exports and trade balance later today. In March, imports fell 6.0% year on year and exports fell 8.9% year on year for a trade deficit of HKD 37.3 billion.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.