Hong Kong Shares Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had dropped more than 330 points or 1.4 percent. The Hang Seng Index now sits just beneath the 24,030-point plateau and it may see additional support on Friday.

The global forecast for the Asian markets is cautiously optimistic, with support expected from airline, steel and financial stocks. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The Hang Seng finished modestly higher on Thursday following gains from the financial shares and mixed performances from the property and technology companies.

For the day, the index climbed 136.05 points or 0.57 percent to finish at 24,028.37 after trading between 23,820.58 and 24,087.59.

Among the actives, Alibaba Group was up 0.29 percent, while Alibaba Health Info rose 0.47 percent, ANTA Sports gained 0.67 percent, China Life Insurance spiked 2.88 percent, China Mengniu Dairy added 0.76 percent, China Resources Land surged 4.88 percent, CITIC rallied 2.03 percent, CNOOC advanced 0.99 percent, CSPC Pharmaceutical fell 0.49 percent, ENN Energy Holdings skidded 0.86 percent, Galaxy Entertainment increased 0.78 percent, Haier Smart Home climbed 1.28 percent, Hang Lung Properties sank 0.81 percent, Henderson Land slid 0.39 percent, Hong Kong & China Gas improved 0.90 percent, Industrial and Commercial Bank of China accelerated 2.79 percent, JD.com stumbled 1.36 percent, Lenovo dipped 0.31 percent, Li Auto strengthened 1.52 percent, Li Ning dropped 0.85 percent, Meituan lost 0.50 percent, New World Development soared 4.02 percent, Nongfu Spring expanded 1.29 percent, Techtronic Industries jumped 1.64 percent, Xiaomi Corporation slumped 0.87 percent and WuXi Biologics shed 0.77 percent.

The lead from Wall Street suggests mild upside as the major averages opened lower on Thursday but gradually moved higher over the course of the day to end with small gains.

The Dow climbed 192.34 points or 0.43 percent to finish at 44,650.64, while the NASDAQ rose 19.33 points or 0.09 percent to close at 20,630.66 and the S&P 500 added 17.20 points or 0.27 percent to end at 6,280.46.

The higher close on Wall Street came despite ongoing uncertainty about President Donald Trump's trade policies as he continues to threaten higher tariffs on various sectors and countries.

On the economic front, the Labor Department said first-time claims for U.S. unemployment benefits unexpectedly edged lower last week.

Crude oil prices fell on Thursday amid concerns about a supply increase for August by OPEC, the huge crude stock inventory in the United States and intensifying U.S. tariff pressures. West Texas Intermediate crude for August delivery tumbled $1.81 to settle at $66.57 per barrel.