China Stock Market Tipped To Regain 2,800-Point Level

The China stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had soared almost 80 points or 3 percent. The Shanghai Composite Index now rests just above the 2,790-point plateau although it figures to bounce higher again on Friday.

The global forecast for the Asian markets is firm, with support expected from the oil and technology stocks. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

The SCI finished modestly lower on Thursday following losses from the financial shares and property stocks.

For the day, the index lost 15.04 points or 0.54 percent to finish at 2,791.77 after trading between 2,786.32 and 2,810.51. The Shenzhen Composite Index skidded 18.24 points or 1.26 percent to end at 1,429.61.

Among the actives, Gemdale gained 0.11 percent, while Poly Real Estate dropped 1.13 percent, China Vanke retreated 0.89 percent, Industrial and Commercial Bank of China eased 0.18 percent, China Minsheng Bank collected 0.48 percent, China Merchants Bank dipped 0.07 percent, China Life Insurance picked up 0.18 percent, Ping An Insurance skidded 1.12 percent, PetroChina added 0.66 percent, China Petroleum and Chemical (Sinopec) shed 0.42 percent, China Shenhua Energy spiked 1.91 percent and China Construction Bank and Bank of China were unchanged.

The lead from Wall Street is upbeat as stocks opened higher on Thursday. They faded slightly in the afternoon but still finished firmly in the green.

The Dow added 54.65 points or 0.21 percent to 26,439.93, while the NASDAQ gained 51.60 points or 0.65 percent to 8,041.97 and the S&P was up 8.03 points or 0.28 percent to 2,914.00.

A notable advance by shares of Apple (AAPL) contributed to the higher close on Wall Street after J.P. Morgan

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