Hong Kong Stock Market May Take Further Damage On Friday

(RTTNews) - The Hong Kong stock market has moved lower in consecutive trading days, retreating more than 320 points or 1.3 percent along the way. The Hang Seng Index now sits just above the 24,760-point plateau and it's tipped to open in the red again on Friday. The global forecast for the Asian markets is soft, still weighed by higher crude oil prices and treasury yields. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets figure to be looking at a soft start. The Hang Seng finished modestly lower on Thursday as losses from the metals and technology stocks were offset by support from the financials and energy companies. For the day, the index dropped 72.99 points or 0.29 percent to finish at 24,761.13 after trading between 24,648.29 and 24,791.20. The lead from Wall Street offers little guidance as the major averages opened firmly lower but recovered by midday to finish mixed and little changed. The Dow shed 161.61 points or 0.31 percent to finish at 51,349.98, while the NASDAQ perked 3.34 points or 0.01 percent to close at 26,929.37 and the S&P 500 eased 1.90 points or 0.02 percent to end at 7,704.13. The rebound from the early slump was triggered in part by reports indicating U.S. and Iranian negotiators are discussing a phased deal to end the prolonged Middle East conflict. Treasury yields also surged on the day, with the ten-year yield reaching its highest closing level since July 2007 amid the jump in crude oil futures and concerns about inflation and interest rates. Crude oil prices could not hold an early spike on Thursday but still managed to finish significantly higher, thanks to a lack of clarity about peace talks in the Middle East. West Texas Intermediate crude for November delivery was up $2.58 or 2.8 percent to finish at $94.74 a barrel.

(RTTNews) - The Hong Kong stock market has moved lower in consecutive trading days, retreating more than 320 points or 1.3 percent along the way. The Hang Seng Index now sits just above the 24,760-point plateau and it's tipped to open in the red again on Friday.

The global forecast for the Asian markets is soft, still weighed by higher crude oil prices and treasury yields. The European markets were down and the U.S. bourses were mixed and little changed and the Asian markets figure to be looking at a soft start.

The Hang Seng finished modestly lower on Thursday as losses from the metals and technology stocks were offset by support from the financials and energy companies.

For the day, the index dropped 72.99 points or 0.29 percent to finish at 24,761.13 after trading between 24,648.29 and 24,791.20.

The lead from Wall Street offers little guidance as the major averages opened firmly lower but recovered by midday to finish mixed and little changed.

The Dow shed 161.61 points or 0.31 percent to finish at 51,349.98, while the NASDAQ perked 3.34 points or 0.01 percent to close at 26,929.37 and the S&P 500 eased 1.90 points or 0.02 percent to end at 7,704.13.

The rebound from the early slump was triggered in part by reports indicating U.S. and Iranian negotiators are discussing a phased deal to end the prolonged Middle East conflict.