(RTTNews.com) - The losing streak has stretched to three sessions now for the Hong Kong stock market, which has given away more than 135 points or 0.6 percent in that span.
The Hang Seng Index settled just above the 23,180-point plateau, although the market may find some traction on Thursday.
The global forecast for the Asian markets is upbeat following the latest announcement from the Federal Reserve, which was largely in line with expectations.
The European and U.S. markets were mostly higher, and the Asian bourses also are expected to open in the green.
The Hang Seng finished barely in the red as losses from the entertainment stocks were countered by support from the oil companies and mixed performances from the properties and financials.
For the day, the index lost 21.87 points or 0.09 percent to finish at 23,181.72 after trading between 23,299.36 and 23, 128.22 on turnover of 46.35 billion Hong Kong dollars.
Among the actives, HSBC added 0.12 percent, while Hang Seng Bank shed 0.55 percent, New World Development spiked 1.93 percent, Sino Land dropped 0.94 percent, Galaxy Entertainment tumbled 1.15 percent, China Petroleum and Chemical (Sinopec) gained 0.68 percent, PetroChina advanced 0.42 percent and China Life retreated 1.16 percent.
The lead from Wall Street is positive as stocks moved higher on Wednesday after the Fed's announcement, extending the upward move seen in the past few sessions.
The major averages all closed firmly positive, with the S&P 500 jumping 14.99 points or 0.8 percent to a new record closing high of 1,956.98.
The Dow rose 98.13 point or 0.6 percent to 16,906.62, while the NASDAQ climbed 25.60 points or 0.6 percent to a 14-year closing high of 4,362.84. As expected, the Fed announced its decision to reduce the pace of its asset purchases by another $10 billion to $35 billion per month.
While the weak first quarter led the Fed to lower its outlook for GDP growth in 2014, the central bank noted that growth in economic activity has rebounded in recent months.
Regarding the outlook for interest rates, the Fed's projections showed a slight uptick in expectations for rates at the end of next year, although mid-2015 remains the target for the first rate hike.
nasdaq.com
The Hang Seng Index settled just above the 23,180-point plateau, although the market may find some traction on Thursday.
The global forecast for the Asian markets is upbeat following the latest announcement from the Federal Reserve, which was largely in line with expectations.
The European and U.S. markets were mostly higher, and the Asian bourses also are expected to open in the green.
The Hang Seng finished barely in the red as losses from the entertainment stocks were countered by support from the oil companies and mixed performances from the properties and financials.
For the day, the index lost 21.87 points or 0.09 percent to finish at 23,181.72 after trading between 23,299.36 and 23, 128.22 on turnover of 46.35 billion Hong Kong dollars.
Among the actives, HSBC added 0.12 percent, while Hang Seng Bank shed 0.55 percent, New World Development spiked 1.93 percent, Sino Land dropped 0.94 percent, Galaxy Entertainment tumbled 1.15 percent, China Petroleum and Chemical (Sinopec) gained 0.68 percent, PetroChina advanced 0.42 percent and China Life retreated 1.16 percent.
The lead from Wall Street is positive as stocks moved higher on Wednesday after the Fed's announcement, extending the upward move seen in the past few sessions.
The major averages all closed firmly positive, with the S&P 500 jumping 14.99 points or 0.8 percent to a new record closing high of 1,956.98.
The Dow rose 98.13 point or 0.6 percent to 16,906.62, while the NASDAQ climbed 25.60 points or 0.6 percent to a 14-year closing high of 4,362.84. As expected, the Fed announced its decision to reduce the pace of its asset purchases by another $10 billion to $35 billion per month.
While the weak first quarter led the Fed to lower its outlook for GDP growth in 2014, the central bank noted that growth in economic activity has rebounded in recent months.
Regarding the outlook for interest rates, the Fed's projections showed a slight uptick in expectations for rates at the end of next year, although mid-2015 remains the target for the first rate hike.
nasdaq.com
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