BEIJING (dpa-AFX) - The China stock market has finished higher in two straight sessions, gathering almost 25 points or 0.8 percent in that span. The Shanghai Composite Index now sits just above the 3,730-point plateau and it may add to its winnings on Tuesday.
The global forecast for the Asian is mixed to higher, with bargain hunting likely in the oversold bourses, although the upside may be capped by increased oil prices. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference.
The SCI finished modestly higher on Monday following gains from the financial shares and a mixed picture from the technology companies.
For the day, the index collected 14.64 points or 0.39 percent to finish at 3,730.92 after trading between 3,692.29 and 3,743.80.
The lead from Wall Street is cautiously optimistic as the major averages opened mixed on Monday; the NASDAQ and S&P 500 were in the green all day, while the Dow hugged the line and finished slightly under water.
The strength on Wall Street came amid a rebound by technology stocks, which moved back to the upside after seeing substantial weakness in the previous session.
Computer hardware stocks turned in some of the tech sector's best performances, with the NYSE Arca Computer Hardware Index surging by 2 percent after plunging to a two-month closing low last Friday.
On the U.S. economic front, the National Association of Home Builders noted a bigger-than-expected deterioration in U.S. homebuilder sentiment in the month of October.
Crude oil prices jumped again on Monday on escalating Middle East conflicts and regional supply fears. West Texas Intermediate crude for November delivery was up $2.56 or 2.52 percent to $103.97 per barrel.
Closer to home, the People's Bank of China will announce its loan prime rate for October later this morning; the rate is expected to hold steady at 3.50 percent.
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