3606494 - Issue in "Define HTTP Connectivity" - SOAP:1007 SRT: Unsupported xstream found: ("HTTP Code 307 : Temporary Redirect")

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The below error is shown when trying to set up Step 2.1 "Define HTTP Connectivity" in SOLMAN_SETUP: 
"SOAP:1007 SRT: Unsupported xstream found: ("HTTP Code 307 : Temporary Redirect")"

Ping result of logical port 'TEST_CONNECTIVITY_J2EE' in SOAMANAGER also returns an error:

"Web service ping failed (RC=307). Service Ping ERROR: Temporary Redirect

Message
Web service ping failed (RC=307). Service Ping ERROR: Temporary Redirect
Service Ping ERROR: Temporary Redirect"

Solution Manager 7.2

Define HTTP Connectivity, ICM, Web Service, logical port, CO_DIAG_WILY_WS_MANAGED_SETUP, RC=307, Temporary Redirect, Solution Manager. , KBA , SV-SMG-INS-CFG , Setup and Configuration of the Solution Manager system , Problem