Higher Open Anticipated For Hong Kong Stock Market
(RTTNews) - Ahead of the long holiday weekend for the Lunar New Year, the Hong Kong stock market had alternated between positive and negative finishes through its last four trading days following the four-day winning streak in which it had soared more than 410 points or 1.9 percent. The Hang Seng Index now sits just beneath the 22,050-point plateau and it's predicted to open higher on Thursday as it catches up on missed positive sentiment from the holiday.
The global forecast for the Asian markets suggests little movement amid a lack of catalysts with some markets still on holiday. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow that lead.
The Hang Seng finished sharply higher on Friday with gains across the board, especially among the properties and technology stocks.
For the day, the index surged 393.65 points or 1.82 percent to finish at 22,044.65 after trading between 21,754.35 and 22,051.77.
Among the actives, Alibaba Group spiked 3.65 percent, while Alibaba Health Info surged 3.95 percent, ANTA Sports jumped 2.32 percent, China Life Insurance collected 1.90 percent, China Mengniu Dairy increased 1.08 percent, China Resources Land rallied 2.85 percent, CITIC advanced 2.04 percent, CNOOC skyrocketed 5.37 percent, Country Garden soared 3.69 percent, CSPC Pharmaceutical climbed 2.07 percent, Galaxy Entertainment increased 1.01 percent, Hang Lung Properties perked 0.13 percent, Henderson Land rose 0.51 percent, Hong Kong & China Gas gained 0.92 percent, Industrial and Commercial Bank of China collected 0.96 percent, JD.com spiked 3.02 percent, Lenovo strengthened 2.14 percent, Li Ning rallied 2.55 percent, Meituan surged 4.93 percent, New World Development soared 3.28 percent, Techtronic Industries tumbled 2.48 percent, Xiaomi Corporation jumped 2/42 percent and WuXi Biologics improved 1.35 percent.
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