Hong Kong Stock Market May Find Traction On Wednesday.

(RTTNews) - The Hong Kong stock market has finished lower in four straight sessions, plunging nearly 700 points or 4.1 percent along the way. The Hang Seng Index now rests just beneath the 16,650-point plateau although it's expected to open to the upside on Wednesday.

The global forecast for the Asian markets is cautiously optimistic after recent volatility, with bargain hunting expected. The European markets were mixed and the U.S. bourses were higher and the Asian markets figure to split the difference. The Hang Seng finished modestly lower on Tuesday following losses from the financial and oil companies, while the properties were mixed and the technology stocks offered support.

For the day, the index sank 51.02 points or 0.31 percent to finish at 16,647.34 after trading between 16,611.14 and 16,908.97. Among the actives, Alibaba Group strengthened 1.42 percent, while Alibaba Health Info spiked 2.48 percent, ANTA Sports added 0.44 percent, China Life Insurance plummeted 4.54 percent, China Mengniu Dairy fell 0.15 percent, China Resources Land perked 0.22 percent, CITIC skidded 0.85 percent, CNOOC retreated 1.26 percent, Country Garden jumped 1.55 percent, CSPC Pharmaceutical rallied 2.10 percent, Galaxy Entertainment tumbled 1.56 percent, Hang Lung Properties climbed 1.26 percent, Henderson Land rose 0.23 percent, Hong Kong & China Gas slumped 1.08 percent, Industrial and Commercial Bank of China dropped 0.71 percent, JD.com improved 0.77 percent, Lenovo advanced 1.15 percent, Li Ning surged 3.93 percent, Meituan declined 1.12 percent, New World Development stumbled 1.34 percent, Techtronic Industries plunged 2.35 percent, Xiaomi Corporation sank 0.25 percent and WuXi Biologics soared 3.06 percent.

The lead from Wall Street is positive as the major averages opened higher on Tuesday and remained in the green throughout the trading day.

The Dow jumped 294.39 points or 0.76 percent to finish at 38,997.66, while the NASDAQ rallied 166.77 points or 1.03 percent to end at 16,366.85 and the S&P 500 gained 53.70 points or 1.04 percent to close at 5,240.03.

The support on Wall Street came as investors picked up stocks at reduced levels following Monday's data-induced heavy selling.

Investors also reacted positively to the latest batch of corporate earnings news from the likes of Uber, CSX, Nvidia, Texas Instruments, Microsoft and JP Morgan Chase, among others.

Economic data was also better as the Commerce Department said the U.S. trade deficit narrowed in June. Also, the Atlanta Fed raised its third quarter growth projection for the U.S. economy, citing latest economic data.

Oil futures settled modestly higher on Tuesday, snapping a four-session losing streak, as the shutdown of Libya's 270,000 barrel per day Sharara oil field offered mild support. West Texas Intermediate Crude oil futures for September ended up $0.26 or 0.36 percent at $73.20 a barrel.