Hong Kong Stock Market Tipped To Open In The Green

(RTTNews) - The Hong Kong stock market has moved higher in three straight trading days, collecting almost 310 points or 1.3 percent along the way. The Hang Seng Index now sits just above the 24,200-point plateau and it's expected to see mild upside again on Tuesday. The global forecast for the Asian markets offers little clarity as traders figure to wait and see what transpires over trade and tariff talks. The European markets were down and the U.S. bourses were slightly higher and the Asian markets figure to split the difference.

The Hang Seng finished modestly higher on Monday following gains from the property stocks and technology companies. For the day, the index improved 63.75 points or 0.26 percent to finish at 24,203.32 after trading between 24,097.32 and 24,267.84. Among the actives, Alibaba Group and China Life Insurance both rallied 0.95 percent, while Alibaba Health Info accelerated 1.60 percent, ANTA Sports perked 0.11 percent, China Mengniu Dairy climbed 0.74 percent, China Resources Land rose 0.17 percent, CITIC sank 0.72 percent, CNOOC spiked 1.75 percent, CSPC Pharmaceutical advanced 0.63 percent, Galaxy Entertainment slumped 0.78 percent, Haier Smart Home gained 0.21 percent, Hang Lung Properties increased 0.54 percent, Hong Kong & China Gas gathered 0.15 percent, Industrial and Commercial Bank of China shed 0.48 percent, JD.com dropped 0.73 percent, Lenovo improved 0.61 percent, Li Auto surged 2.58 percent, Li Ning retreated 1.11 percent, Meituan strengthened 0.75 percent, New World Development jumped 0.90 percent, Nongfu Spring soared 2.17 percent, Techtronic Industries stumbled 1.30 percent, Xiaomi Corporation dipped 0.09 percent, WuXi Biologics added 0.38 percent and Henderson Land, CKI Holdings and CLP Holdings were unchanged.

The lead from Wall Street is uninspired as the major averages opened lower on Monday and gradually ticked up into positive territory, finishing with mild gains.

The Dow added 88.14 points or 0.20 percent to finish at 44,459.65, while the NASDAQ gained 54.80 points or 0.27 percent to close at 20,640.33 and the S&P 500 rose 8.81 points or 0.14 percent to end at 6,268.56.

The choppy trading on Wall Street followed President Donald Trump's threats to impose 30 percent tariffs on imports from the European Union and Mexico beginning Aug. 1. The EU responded that it will suspend the implementation of its trade countermeasures against the U.S. until early August to allow more time for a negotiated settlement.

Traders may be reluctant to make significant moves ahead of the release of some key economic data in the coming days, including reports on consumer and producer prices, retail sales and industrial production.

Earnings season also picks up steam this week, with Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC), Goldman Sachs (GS), Johnson & Jonson (JNJ) and Netflix (NFLX) among the big name companies due to report their quarterly results.

Crude oil prices slumped on Monday on continuing concerns over OPEC's decision to increase output again next month. West Texas Intermediate crude for August delivery dropped $1.24 or 1.85 percent to $65.79 per barrel.