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Hong Kong Stock Market Tipped To Find Support On Monday

Mount Equity Group Tokyo, Japan > News > Markets > Hong Kong Stock Market Tipped To Find Support On Monday

(RTTNews) – The Hong Kong stock market has finished lower in three straight sessions, sinking more than 550 points or 1.8 percent along the way. The Hang Seng Index now rests just shy of the 28,920-point plateau although it’s expected to stop the bleeding on Monday.

The global forecast for the Asian markets is positive in response to U.S. employment data and rising crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The Hang Seng finished slightly lower on Friday following mixed performances from the financials, properties, casinos, technology stocks and oil companies.

For the day, the index slid 47.93 points or 0.17 percent to finish at 28,918.10 after trading between 28,737.97 and 29,023.18.

Among the actives, AAC Technologies advanced 0.78 percent, while AIA Group and Alibaba Health Info both rose 0.41 percent, Alibaba Group fell 0.28 percent, ANTA Sports climbed 1.03 percent, China Life Insurance shed 0.50 percent, China Mengniu Dairy jumped 1.19 percent, China Petroleum and Chemical (Sinopec) added 0.47 percent, China Resources Land skidded 1.39 percent, CITIC was up 0.22 percent, CNOOC lost 0.35 percent, CSPC Pharmaceutical tanked 1.64 percent, Galaxy Entertainment increased 0.24 percent,