(RTTNews) - The Hong Kong stock market has alternated between positive and negative finishes through the last six trading days since the end of the two-day winning streak in which it had rallied almost 550 points or 2.2 percent. The Hang Seng Index now rests just above the 25,872-point plateau and it's expected to strengthen further on Wednesday.
The global forecast for the Asian markets is upbeat on tumbling crude oil prices and hopes for an end to hostilities in the Middle East. The European and U.S. markets were up and the Asian bourses are expected to follow suit.
The Hang Seng finished modestly higher on Tuesday following gains from the financial shares, insurance companies and technology stocks.
For the day, the index advanced 211.47 points or 0.82 percent to finish at 25,872.32 after trading between 25,668.53 and 25,995.09.
Among the actives, AIA lost 0.46 percent, while Alibaba Group advanced 1.06 percent, Baidu surged 3.45 percent, Bank of China expanded 1.39 percent, BOC Hong Kong rallied 1.83 percent, BYD dropped 0.82 percent, China Construction Bank collected 0.71 percent, China Life Insurance vaulted 1.63 percent, China Merchants Bank increased 0.86 percent, China Mobile was up 0.49 percent, China Petroleum & Chemical slumped 1.07 percent, China Shenhua Energy perked 0.31 percent, CITIC jumped 1.81 percent, CNOOC slipped 0.15 percent, Hong Kong Exchange gathered 0.35 percent, HSBC strengthened 1.59 percent, Industrial and Commercial Bank of China and Xiaomi Corporation both added 0.72 percent, JD.com spiked 2.76 percent, Meituan tumbled 1.56 percent, NetEase shed 0.23 percent, Nongfu Spring rose 0.60 percent, PetroChina sank 0.55 percent, Ping An Insurance accelerated 2.60 percent, Semiconductor Manufacturing expanded 1.40 percent, Sun Hung Kai Properties improved 1.03 percent, Tencent Holdings gained 0.65 percent, WuXi AppTec climbed 1.25 percent and Zijin Mining soared 3.01 percent.
The lead from Wall Street is firm as the major averages opened solidly in the green on Tuesday and continued to climb as the day progressed, ending at session highs.
The Dow jumped 317.74 points or 0.66 percent to finish at 48,535.99, while the NASDAQ soared 455.35 points or 1.96 percent to end at 23,639.08 and the S&P 500 rallied 81.14 points or 1.18 percent to close at 6,967.38.
The continued strength on Wall Street came amid optimism about a second round of talks between the U.S. and Iran over ending the Middle East conflict.
The news about potential negotiations contributed to a sharp pullback by the price of crude oil. In addition, the International Energy Agency's report cautioning crude oil "demand destruction" weighed on prices. West Texas Intermediate crude for May delivery was down $7.18 or 7.25 percent at $91.90 per barrel.
Adding to the positive sentiment, a report from the Labor Department showed producer prices in the U.S. increased much less than expected last month.
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