(RTTNews) - The Hong Kong stock market has moved higher in two of three trading days since ending the two-day slide in which it had fallen almost 700 points or 2.7 percent. The Hang Seng Index now sits just above the 27,080-point plateau although it may hand back those gains on Tuesday. The global forecast for the Asian markets is negative due to uncertainty surrounding U.S. tariff policies. The European and U.S. markets were down and the Asian bourses are expected to follow suit. The Hang Seng finished sharply higher on Monday with gains across the board, especially among the financial, property, insurance and technology sectors. For the day, the index surged 668.56 points or 2.53 percent to finish at 27,081.91 after trading between 26,798.97 and 27,156.28. Among the actives, Alibaba Group spiked 3.47 percent, while Alibaba Health Info gathered 1.16 percent, ANTA Sports increased 2.44 percent, China Life Insurance climbed 3.04 percent, China Mengniu Dairy tumbled 1.92 percent, China Resources Land jumped 3.34 percent, CITIC gained 1.89 percent, CNOOC perked 0.54 percent, CSPC Pharmaceutical elevated 0.86 percent, Galaxy Entertainment strengthened 3.16 percent, Haier Smart Home expanded 3.11 percent, Hang Lung Properties added 2.40 percent, Henderson Land advanced 2.73 percent, Hong Kong & China Gas was up 0.79 percent, Industrial and Commercial Bank of China collected 2.34 percent, JD.com surged 3.56 percent, Lenovo rose 1.63 percent, Li Ning and Li Auto both accelerated 3.92 percent, Meituan skyrocketed 5.26 percent, New World Development picked up 1.02 percent, Nongfu Spring improved 2.51 percent, Techtronic Industries soared 3.51 percent, Xiaomi Corporation vaulted 3.39 percent and WuXi Biologics rallied 3.42 percent.
The lead from Wall Street is bleak as the major averages opened lower and remained in the red throughout the session, ending near daily lows.
The Dow plummeted 821.91 points or 1.66 percent to finish at 48,804.06, while the NASDAQ tumbled 258.79 points or 1.13 percent to close at 22,627.27 and the S&P 500 dropped 71.76 points or 1.04 percent to end at 6,837.75.
The sell-off on Wall Street came amid renewed trade uncertainty following the Supreme Court's decision last Friday striking down most of President Donald Trump's sweeping global tariffs.
Meanwhile, the European Commission issued a statement requesting "full clarity" on the steps the U.S. intends to take following the Supreme Court decision.
Negative sentiment was also generated in reaction to a nosedive by shares of IBM Corp. (IBM) after Anthropic's Claude announced COBOL capabilities. COBOL is a programming language used widely in business data processing, which is a core business for IBM.
Crude oil prices sputtered on Monday as demand concerns reappeared following the uncertainty generated by the tariff issues. West Texas Intermediate crude for April delivery slipped $0.10 or 0.15 percent to $66.38 per barrel.
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