Hong Kong Stock Market Predicted To Open In The Green

(RTTNews) - The Hong Kong stock market bounced higher again on Tuesday, one day after snapping the two-day winning streak in which it had surged more than 1,080 points or 5.5 percent. The Hang Seng Index now sits just beneath the 19,600-point plateau and it's expected to open higher again on Wednesday.

The global forecast for the Asian markets is positive ahead of the Federal Reserve's monetary policy announcement later today. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.

The Hang Seng finished modestly higher on Tuesday following gains from the properties, losses from the financials and a mixed picture from the technology companies.

For the day, the index climbed 132.57 points or 0.68 percent to finish at 19,596.20 after trading between 19,382.30 and 19,707.75.

Among the actives, Alibaba Health Info plummeted 4.48 percent, while ANTA Sports dipped 0.21 percent, China Life Insurance dropped 0.66 percent, China Mengniu Dairy gained 0.29 percent, China Petroleum and Chemical (Sinopec) added 0.54 percent, China Resources Land lost 0.58 percent, CNOOC climbed 1.52 percent, Country Garden strengthened 1.61 percent, CSPC Pharmaceutical plunged 4.32 percent, Galaxy Entertainment spiked 2.43 percent, Hang Lung Properties and Meituan both rallied 2.05 percent, Henderson Land surged 4.41 percent, Hong Kong & China Gas advanced 1.39 percent, Industrial and Commercial Bank of China fell 0.52 percent, JD.com sank 0.87 percent, Li Ning jumped 1.76 percent, Longfor tumbled 2.10 percent, New World Development soared 3.23 percent, Techtronic Industries tanked 3.11 percent, Xiaomi Corporation was up 0.18 percent, WuXi Biologics slumped 0.96 percent and Alibaba Group, Lenovo, CITIC and ENN Energy were unchanged.

The lead from Wall Street is upbeat as the major averages opened sharply higher on Tuesday, faded as the day progressed but still finished in the green.

The Dow climbed 103.60 points or 0.30 percent to finish at 34,108.64, while the NASDAQ jumped 113.08 points or 1.01 percent to close at 11,256.81 and the S&P 500 gained 29.09 points or 0.73 percent to end at 4,019.65.

The early rally on Wall Street followed the release of a Labor Department report showing consumer prices in the U.S. inched up less than expected in November.

Buying interest waned over the course of the morning, however, as traders seemed reluctant to make significant beats ahead of the Fed's rate decision later today. The Fed is widely expected to raise interest rate by another 50 basis points, with traders likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes.

Crude oil prices rose sharply on Tuesday due to concerns about supply disruptions amid the ongoing shutdown of the Keystone pipeline following a massive leak last week, while a weak dollar also supported oil prices. West Texas Intermediate Crude oil futures for January ended higher by $2.22 or 3 percent at $75.39 a barrel.