Hang Seng Likely To Remain Rangebound

(RTTNews) - The Hong Kong stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had given up more than 850 points or 3 percent. The Hang Seng Index now sits just above the 24,710-point plateau although it's looking at a soft start on Thursday. The global forecast for the Asian markets is soft after the U.S. Federal Reserve raised interest rates for the first time in three years. The European markets were up and the U.S. bourses were down and the Asian markets are expected to follow the latter lead. The Hang Seng finished slightly higher on Wednesday as gains from the metals and technology companies were offset by weakness from the financial shares and retailers.