Higher opening expected for Hong Kong stock market

(RTTNews) – The Hong Kong stock market has alternated between positive and negative results over the past four trading days since ending a five-day losing streak in which it fell nearly 1,450 points. or 7%. The Hang Seng index is now just below the plateau of 20,575 points, although it is expected to rebound again on Friday.

The global outlook for Asian markets ranges from mixed to higher, with gains in tech and real estate stocks likely capped by weakness in energy companies. European markets were mixed and US stock markets were up and Asian markets figured to share the difference.

The Hang Seng ended sharply lower on Thursday after losses in financials, properties, oil companies and casinos – while tech stocks offered support.

For the day, the index fell 315.59 points or 1.51% to end at 20,574.63 after trading between 20,527.35 and 20,827.61.

Among assets, Alibaba Group fell 1.16%, while Alibaba Health Info slipped 1.33%, ANTA Sports weakened 1.44%, China Life Insurance lost 0.68%, China Mengniu Dairy added 0.67%, China Petroleum and Chemical (Sinopec) fell 0.56%, China Resources Land crashed 3.83%, CITIC and ENN Energy both fell 0.48 %, CNOOC fell 2.10%, Country Garden fell 8.85%, CSPC Pharmaceutical fell 0.36%, Galaxy Entertainment cratered 3.06%, Hang Lung Properties fell 1.85 %, Henderson Land fell 2.69%. , Hong Kong & China Gas lost 0.61%, Industrial and Commercial Bank of China fell 0.97%, JD.com rose 0.73%, Lenovo climbed 0.97%, Li Ning a fell 1.69%, Longfor plunged 7.22%, Meituan fell 2.21%, New World Development fell 1.51%, Techtronic Industries jumped 2.36%, Xiaomi Corporation gained 0.46 percent and WuXi Biologics jum ped 1.13 percent.

Wall Street’s lead is bullish as major averages shrugged off early weakness on Thursday, moving solidly into the green as the day progressed.

The Dow Jones jumped 162.06 points or 0.51% to end at 32,036.90, while the NASDAQ jumped 161.96 points or 1.36% to end at 12,059.61 and the S&P 500 gained 39.05 points or 0.99% to close at 3,998.95.

The volatility on Wall Street came as traders expressed uncertainty about the outlook for the markets following the recent move higher. The NASDAQ benefited from a significant rise in shares of Tesla (TSLA), which reported second-quarter earnings that beat expectations.

The latest U.S. economic data may also have helped ease worries about the outlook for interest rates, with the Labor Department noting that initial jobless claims unexpectedly hit an eight-month high last week.

A separate report from the Federal Reserve Bank of Philadelphia showed regional manufacturing activity unexpectedly contracted at a faster pace in July. The Conference Board also released a report showing that its index of leading economic indicators fell for the fourth consecutive month in June.

Crude oil prices fell on Thursday, extending losses from the previous session amid concerns about the outlook for near-term energy demand due to slowing economic growth and rising interest rates. interest. West Texas Intermediate crude oil futures for September ended down $3.53 or 3.5% at $96.35 a barrel.

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

About Virginia Ahn

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