The Hong Kong stock market has moved lower in three straight sessions, sliding almost 850 points or 3.3 percent along the way. The Hang Seng Index now rests just above the 25,280-point plateau – and while it has a positive lead for Wednesday, domestic unrest could keep the market in the red.
The global forecast for the Asian markets is broadly positive on an improved outlook for trade between the United States and China, and the resulting surge in crude oil prices. The European and U.S. markets were firmly higher and the Asian bourses are expected to open in similar fashion.
The Hang Seng finished sharply lower on Tuesday with damage across the board, exacerbated by growing protests against Chinese policies.
For the day, the index plummeted 543.42 points or 2.10 percent to finish at 25,281.30 after trading between 25,270.91 and 25,616.71.
Among the actives, Galaxy Entertainment plummeted 5.84 percent, while BOC Hong Kong plunged 3.95 percent, Sands China tumbled 3.59 percent, AIA Group skidded 2.97 percent, Henderson Land retreated 2.81 percent, CSPC Pharmaceutical declined 2.44 percent, Hong Kong & China Gas contracted 2.37 percent, China Mobile dropped 2.25 percent, CITIC sank 2.23 percent, CNOOC shed 2.05 percent, WH Group lost 2.04 percent, Industrial and Commercial Bank of China fell 2.01 percent, China Petroleum and Chemical (Sinopec) slid 1.71 percent, China Life Insurance dipped 1.45 percent and Ping An Insurance eased 0.63 percent.
The lead from Wall Street is firmly upbeat as stocks moved higher early Tuesday and only got stronger as the day progressed.
The Dow climbed 372.54 points or 1.44 percent to 26,279.91, while the NASDAQ surged 152.95 points or 1.95 percent to 8,016.36 and the S&P 500 jumped 42.57 points or 1.48 percent to 2,926.32.
The rally on Wall Street came after U.S. Trade Representative Robert Lighthizer