China Bourse May Add To Its Winnings On Tuesday
(RTTNews) - The China stock market has moved higher in back-to-back sessions, advancing almost 110 points or 2.7 percent in that span. The Shanghai Composite Index now sit just beneath the 4,100-point plateau and it has a solid lead again for Tuesday's trade. The global forecast
(RTTNews) - The China stock market has moved higher in back-to-back sessions, advancing almost 110 points or 2.7 percent in that span. The Shanghai Composite Index now sit just beneath the 4,100-point plateau and it has a solid lead again for Tuesday's trade.
The global forecast for the Asian markets is upbeat, even though they've already had the chance to respond the easing of tensions in the Middle East. The European markets were mixed and the U.S. bourses were up and the Asian markets are tipped to at least open to the upside.
The SCI finished sharply higher on Monday following gains from the insurance and resource companies, while the properties and oil stocks were mixed and the financials were soft.
For the day, the index jumped 64.96 points or 1.61 percent to finish at 4,096.47 after trading between 4,051.07 and 4,097.17. The Shenzhen Composite Index spiked 92.18 points or 3.42 percent to end at 2,789.36.
Among the actives, Industrial and Commercial Bank of China tumbled 2.70 percent, while Bank of China tanked 2.54 percent, Agricultural Bank of China retreated 1.76 percent, China Merchants Bank dropped 0.99 percent, Bank of Communications contracted 1.82 percent, China Life Insurance rallied 2.01 percent, Jiangxi Copper skyrocketed 10.01 percent, Aluminum Corp of China (Chalco) skidded 1.20 percent, Yankuang Energy plummeted 8.15 percent, PetroChina stumbled 2.41 percent, China Petroleum and Chemical (Sinopec) climbed 1.01 percent, Huaneng Power perked 0.12 percent, China Shenhua Energy cratered 5.96 percent, Gemdale added 0.40 percent, Poly Developments fell 0.38 percent and China Vanke sank 0.95 percent.
The lead from Wall Street is broadly positive as the major averages opened sharply higher on Monday and remained that way throughout the trading day.
The Dow jumped 468.77 points or 0.92 percent to finish at 51,671.03, while the NASDAQ surged 795.10 points or 3.07 percent to end at 26,683.94 and the S&P 500 rallied 122.83 points or 1.65 percent to close at 7,554.29.
The rally on Wall Street followed news that the U.S. and Iran have reached an agreement to end more than three months of war.
