The China stock market on Tuesday snapped the three-day slide in which it had fallen almost 65 points or 2.1 percent. The Shanghai Composite Index now rests just beneath the 3,080-point plateau and it may tick higher again on Wednesday.
The global forecast for the Asian is mixed and flat ahead of key central bank meetings in the next few days. The European markets were slightly lower and the U.S. bourses were mixed and flat - and the Asian bourses figure to split the difference.
The SCI finished modestly higher on Tuesday following gains from the financials and oil and insurance companies.
For the day, the index gained 27.02 points or 0.89 percent to finish at 3,079.80 after trading between 3,034.10 and 3,081.45. The Shenzhen Composite Index jumped 17.98 points or 1.03 percent to end at 1,759.16.
Among the actives, Agricultural Bank of China picked up 0.28 percent, while China Construction Bank climbed 1.00 percent, Industrial and Commercial Bank of China collected 0.36 percent, Bank of Communications dipped 0.17 percent, China Merchants Bank added 0.38 percent, China Life advanced 0.70 percent, Ping An Insurance advanced 1.38 percent, China Petroleum and Chemical (Sinopec) jumped 1.42 percent, PetroChina perked 0.77 percent, China Shenhua Energy soared 2.23 percent and Bank of China was unchanged.
The lead from Wall street is cautiously optimistic as stocks showed a lack of direction on Tuesday, bouncing back and forth across the unchanged line before ending mixed.
The Dow fell 1.58 points or 0.01 percent to 25,320.73, while the NASDAQ climbed 43.87 points or 0.57 percent to 7,703.79 and the S&P 500 rose 4.85 points or 0.17 percent to 2,786.85.
The soft performance came ahead of monetary policy announcements by the Federal Reserve and the European Central Bank. The Fed is widely expected to raise interest rates by 25 basis points on Wednesday, while the ECB may discuss ending its bond purchasing program on Thursday.
In economic news, the Labor Department reported a modest increase in consumer prices in May, while core CPI edged up to a 15-year high.
Traders largely shrugged off the meeting between President Donald Trump and North Korean leader Kim Jong Un - who pledged to work together to "build a lasting and stable peace regime on the Korean Peninsula."
by P2PNews Staff Writer