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03/01/2012 00:01 AST
Ahead of Monday's holiday for New Year's Day, the Hong Kong stock market had ended the two-day slide in which it had declined more than 230 points or 1.3 percent. The Hang Seng Index finished just above the 18,430-point plateau, and now analysts are forecasting additional support for the market when it opens on Tuesday.
The global forecast for the Asian markets is generally upbeat, following the European bourses in a technical rebound after heavy selling pressure last week. Industrials and technology stocks are tipped to lead the markets higher on optimism that 2012 will bring an end to Europe's sovereign debt crisis, although financials and steel producers could remain soft on Tuesday.
The Hang Seng finished slightly higher on Friday, nudged into the green by gains from the financial shares.
For the day, the index gathered 36.47 points or 0.20 percent to finish at 18,434.39 after trading between 18,415.85 and 18,506.27 on volume of 24.47 billion Hong Kong dollars.
Among the gainers, BOC Hong Kong added 0.7 percent, while Ping An collected 0.5 percent and PICC Property and Casualty climbed 0.8 percent.
Wall Street was closed on Monday, but the European markets kicked off the New Year in style on Monday.
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RTT News
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
11/07/2025
Wall Street stocks edged higher Thursday, lifting major indices to records as traders shrugged off worries about US tariffs while strong Delta earnings sent airline shares upward.
The Nasdaq
AFP
11/07/2025
Binance, the global blockchain ecosystem behind the world's largest cryptocurrency exchange, has launched Sharia Earn in the UAE, the first multi-token staking service that meets the principles of Is
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The size of China's economy will exceed 140 trillion yuan ($19.5 trillion) this year, the head of the state planner said as policymakers look to steer the country beyond the current five-year policy
Kuwait Times
10/07/2025
Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could fall as soon as this month, with most policymakers remaining worried to some degree about
Reuters
09/07/2025
The global sukuk market is poised to maintain its strength in 2025, with foreign currency-denominated issuances expected to reach between $70 billion and $80 billion, according to a new report by S&P
Arab News
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