Hong Kong Stock Exchange set to open under pressure on Thursday

(RTTNews) – Hong Kong’s stock market has finished higher on two of three trading days since ending a two-day losing streak in which it stumbled more than 330 points or 1.6 %. The Hang Seng Index now sits just above the 22,010 plateau, although it is expected to return those gains on Thursday.

The global forecast for Asian markets is weak due to fears of higher inflation and slower growth. European and American markets were down and Asian stock exchanges should follow suit.

The Hang Seng ended sharply higher on Wednesday after gains in technology stocks and oil companies.

For the day, the index jumped 482.92 points or 2.24% to end at 22,014.59 after trading between 21,734.49 and 22,064.12.

Among assets, AAC Technologies rose 2.78%, while Alibaba Group jumped 10.12%, Alibaba Health Info soared 11.55%, ANTA Sports gained 4.08% %, China Life Insurance collected 0.49%, China Mengniu Dairy fell 0.63%, China Petroleum and Chemical (Sinopec) rose 1.06%, China Resources Land fell 0.44%, CITIC rose 0.34%, CNOOC gained 2.15%, Country Garden gained 1.48%, CSPC Pharmaceutical climbed 3.66%, Galaxy Entertainment accelerated 5.69%, Hang Lung Properties gained 1.35%. %, Henderson Land fell 0.82%, Hong Kong & China Gas plunged 2.52%, Industrial and Commercial Bank of China lost 0.43%, JD.com jumped 6.45%, Li Ning jumped 4.18%, Meituan rebounded 4.62%, New World Development fell 0.98%. percent, Techtronic Industries lost 0.40 percent, Xiaomi Corporation rose 3.62 percent, WuXi Biologics climbed 8.04 percent and Lenovo was unchanged.

Wall Street’s lead is negative as major averages opened lower and spent most of the session in the red before ending firmly in negative territory.

The Dow Jones lost 269.24 points or 0.81% to end at 32,910.90, while the NASDAQ lost 88.96 points or 0.73% to end at 12,086.27 and the S&P 500 sank 44.91 points or 1.08% to close at 4,115.77.

Wall Street’s weakness followed weaker global growth forecasts from the World Bank and the Organization for Economic Co-operation and Development.

Rising Treasury yields also caused the market to decline after breaking above the psychologically important level of 3%, fueling concerns about inflation.

In economic news, the Commerce Department said wholesale inventories in the United States rose more than expected in April, although they were down from the previous month.

Crude oil prices rose on Wednesday, supported by a sharp drop in U.S. gasoline inventories last week and optimism about increased demand from China. West Texas Intermediate crude oil futures for July ended up $2.70 or 2.3% at $122.11 a barrel, hitting a three-week high.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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