(RTTNews) – The Hong Kong stock market rebounded on Thursday, one day after halting the three-day winning streak in which it had gained more than 340 points or 1.2 percent. The Hang Seng Index now sits just above the 29,750-point plateau although it’s looking at a soft start again on Friday.
The global forecast for the Asian markets is soft on concerns over tax rates in the United States. The European markets were up and the U.S. bourses were down and the Asian markets figure to follow the latter lead.
The Hang Seng finished modestly higher on Thursday following mixed performances from the technology stocks and properties.
For the day, the index advanced 133.42 points or 0.47 percent to finish at 28,755.34 after trading between 28,597.00 and 28,848.02.
Among the actives, AAC Technologies plummeted 1.76 percent, while AIA Group perked 0.89 percent, Alibaba Group fell 0.18 percent, Alibaba Health Info added 0.44 percent, ANTA Sports soared 3.27 percent, China Life Insurance jumped 1.16 percent, China Mengniu Dairy gained 0.35 percent, China Resources Land climbed 1.08 percent, CITIC rose 0.26 percent, CNOOC dropped 0.49 percent, CSPC Pharmaceutical gathered 0.95 percent, Galaxy Entertainment advanced 0.81 percent, Hang Lung Properties rallied 1.86 percent, Henderson Land sank 0.71 percent, Hong Kong & China Gas skidded 0.96 percent, Industrial and Commercial Bank of China and Wharf Real Estate tumbled 1.11 percent, Longfor plunged 1.68 percent, Meituan surged 3.47 percent, Sands China was up 0.13 percent, Sun Hung Kai Properties shed 0.25 percent, Techtronic Industries accelerated 2.30 percent, WuXi Biologics spiked 2.42 percent and China Petroleum and Chemical (Sinopec), New World Development and Xiaomi Corporation were unchanged.
The lead from Wall Street is broadly negative as the major averages showed little movement early on Thursday but headed due south in the afternoon to finish firmly in the red.
The Dow tumbled 321.41 points or 0.94 percent to finish at 33,815.90, while the NASDAQ skidded 131.81 points or 0.94 percent to end at 13,818.41 and the S&P 500 sank 38.44 points or 0.92 percent to close at 4,134.98.
The afternoon sell-off came following reports that President