The Hong Kong stock market has climbed higher in back-to-back trading days, gathering almost 150 points or 0.5 percent along the way. The Hang Send Index now rests just above the 31,160-point plateau, although it may spin its wheels 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 Hang Seng finished slightly higher on Tuesday as gains from the insurance and oil companies were capped by weakness from the properties and financials.
For the day, the index added 39.36 points or 0.13 percent to finish at 31,103.06 after trading between 30,944.97 and 31,242.86.
Among the actives, CSPC Pharmaceutical Group surged 5.12 percent, while China Mengniu Dairy soared 3.65 percent, WH Group plummeted 2.82 percent, CNOOC spiked 1.64 percent, China Petroleum and Chemical (Sinopec) climbed 1.48 percent, Galaxy Entertainment advanced 0.99 percent, Hong Kong & China Gas tumbled 0.91 percent, AIA Group skidded 0.93 percent, Tencent Holdings dropped 0.38 percent, China Mobile perked 0.35 percent, New World Development shed 0.33 percent, Ping An Insurance collected 0.32 percent, China Life added 0.22 percent, Industrial and Commercial Bank of China lost 0.15 percent and BOC Hong Kong and Sun Hung Kai Properties were 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