(RTTNews) - The China stock market has alternated between positive and negative finishes through the last seven trading days since the end of the four-day winning streak in which it had climbed more than 110 points or 2.7 percent. The Shanghai Composite Index now sits just beneath the 3,810-point plateau although it's expected to climb back into the green again on Tuesday.
The global forecast for the Asian markets is upbeat on sinking crude oil prices and optimism for an end to the conflict in the Middle East. The European and U.S. markets were up and the Asian bourses are expected to open in similar fashion.
The SCI finished modestly lower on Monday, nudged into the red by weakness among the technology and financial sectors.
For the day, the index lost 22.60 points or 0.59 percent to finish at 3,809.66 after trading between 3,797.64 and 3,827.64.
The lead from Wall Street is solid as the major averages opened higher and continued to accelerate throughout the trading day, ending at session highs.
The Dow rallied 693.38 points or 1.32 percent to finish at 53,178.41, while the NASDAQ surged 540.04 points or 2.13 percent to end at 25,913.90 and the S&P 500 jumped 110.78 points or 1.48 percent to close at 7,600.50.
The rally on Wall Street came as crude oil prices have plummeted amid renewed optimism about an end to the conflict in the Middle East.
Crude oil prices plummeted on Monday, with supply disruption threats diminishing after U.S. President Donald Trump called off a planned attack on Iran. West Texas Intermediate crude for September delivery was down $4.77 5.63 percent at $79.90 per barrel.
Trump later claimed that talks between the U.S. and Iran would begin Monday afternoon, although Tehran has denied there are plans for direct negotiations with the U.S.
In U.S. economic news, the Institute for Supply Management said U.S. manufacturing activity increased more than expected in July.
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