The Hong Kong stock market has experienced fluctuations over the past four trading sessions, moving between positive and negative finishes after recovering from a two-day slump where it lost over 55 points, equivalent to 0.2 percent. At present, the Hang Seng Index is slightly below the 19,690-point level but might see an uptick on Tuesday.
The outlook for Asian markets is positive, particularly due to expected gains in technology stocks. Encouraging signs from European and U.S. markets suggest that the Asian exchanges are poised for similar advances.
On Monday, the Hang Seng Index ended with a modest decline, influenced by mixed performances from financial, property, and technology sectors. Specifically, the index fell by 71.98 points or 0.36 percent, closing at 19,688.29, after fluctuating between 19,627.84 and 19,851.55 throughout the day.
Notable movements among active stocks included Alibaba Group's 0.54 percent decline, ANTA Sports' 1.05 percent drop, and China Life Insurance's 0.43 percent decrease. China Mengniu Dairy slipped 0.97 percent, while China Resources Land fell 1.34 percent. CITIC decreased by 1.04 percent, whereas CNOOC edged up by 0.63 percent. CSPC Pharmaceutical dipped 0.65 percent, and Galaxy Entertainment was down by 0.91 percent. Haier Smart Home fell by 1.33 percent, but Hang Lung Properties gained 1.17 percent. Hong Kong & China Gas slightly declined by 0.16 percent, JD.com increased by 1.12 percent, and Lenovo saw a rise of 0.31 percent. Li Auto dropped 1.77 percent, Li Ning gained 0.38 percent, and Meituan fell significantly by 1.95 percent. New World Development decreased by 0.40 percent, Nongfu Spring dropped sharply by 3.42 percent, Techtronic Industries declined 0.79 percent, while Xiaomi Corporation slightly rose by 0.14 percent. WuXi Biologics saw a considerable decline of 2.35 percent, while Industrial and Commercial Bank of China, Alibaba Health Info, Henderson Land, and ENN Energy Holdings reported no change.
On Wall Street, the sentiment was mostly positive with the major indices opening higher on Monday, despite the Dow Jones Industrial Average slipping into negative territory by the close. The Dow Jones dropped 25.57 points or 0.06 percent, ending at 42,706.56. Conversely, the NASDAQ surged 243.30 points or 1.24 percent to 19,864.98, and the S&P 500 increased by 32.91 points or 0.55 percent, reaching 5,975.38.
The initial rally in U.S. markets was fueled by strong performances in technology stocks, driven by Foxconn’s report of record fourth-quarter revenue due to robust demand for AI servers. Additionally, buying interest was spurred by reports that President-elect Donald Trump might consider reducing his proposed tariff plans.
Crude oil prices, on the other hand, could not sustain early gains on Monday, breaking a five-day winning streak. However, the downside was limited as Saudi Arabia announced an increase in prices for Asian buyers for the first time in three months. West Texas Intermediate Crude for February delivery fell by $0.46 or 0.5 percent, settling at $73.50 per barrel.
The material has been provided by InstaForex Company -
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