RSS Hong Kong Stock Market May Stop The Bleeding On Friday

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 RSS Hong Kong Stock Market May Stop The Bleeding On Friday

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The Hong Kong stock market has experienced a downturn over the past four sessions, with a cumulative decline of more than 520 points, equating to a 2.8% decrease. Consequently, the Hang Seng Index currently hovers just above the 19,240 mark, although market analysts anticipate potential stabilization in Friday's trading.

Global forecasts for Asian markets appear uncertain, with U.S. markets closed on Thursday. European markets ended the day largely unchanged, showing a slight upward tendency, setting a tentative example for Asian markets to possibly follow.

On Thursday, the Hang Seng Index posted a modest decrease as setbacks in financial and energy sectors were partially counterbalanced by gains in technology stocks and varied results in the real estate segment. Specifically, the index saw a marginal decline of 38.95 points or 0.20%, culminating at 19,240.89, oscillating between 19,227.73 and 19,405.74 during the day's trades.

In stock specifics, Alibaba Group and China Mengniu Dairy each dipped 0.37%, while Alibaba Health Information saw an increase of 0.93%. Notable performances include ANTA Sports with a 4.45% surge, and Lenovo climbing 3.04%. On the downside, Li Auto dropped significantly by 4.42%, and Li Ning fell sharply by 5.01%. Other movements included JD.com's 1.55% decline and New World Development's 2.51% reduction.

The U.S. markets, closed on Thursday due to a holiday honoring former President Jimmy Carter, who passed away in late December at the age of 100, offer no new guidance. Meanwhile, market participants are eagerly anticipating the Labor Department’s publication of the latest monthly jobs report, which is expected to shed further light on labor market conditions.

In energy markets, oil prices rose amid optimism regarding global demand prospects and concerns over potential supply constraints stemming from sanctions on Iranian and Russian oil exports. February futures for West Texas Intermediate Crude oil saw an increase, closing $0.60 higher or 0.82% up, at $73.92 per barrel.

The material has been provided by InstaForex Company - www.instaforex.com
 
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