Asia News

Hong Kong shares end morning up 4.5pc

Written by Writer on Friday, November 21st, 2008

Hong Kong shares end morning up 4.5pc

(11-21 13:01)

Hong Kong share prices ended the morning 4.5 percent up, reversing earlier losses as investors hunted for bargains in financial stocks after four straight days of falls, dealers said.

The benchmark Hang Seng Index jumped 553.22 points at 12,851.78. Turnover was HK$25.92 billion.

“Asian markets are recovering in general despite US stocks. That aids Hong Kong,” Patrick Yiu of CASH Asset Management told Dow Jones Newswires.

“Also, there are expectations of more economic stimulus policies from the Chinese government during the weekend.”

The gains were led by property stocks, which suffered steep falls in previous days. Henderson Land (0097) bounced 16.6 percent, Wharf (0004) was up 16.2 percent and Hang Lung Properties (0101) rose 13.2 percent.

AGENCE FRANCE-PRESSE

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News Topics : Asian Markets, Asset Management, Bargains, Chinese government, Dow Jones, Economic Stimulus, Financial Stocks, France Presse, Hang Seng Index, Henderson Land, Hk, Hong Kong, Losses, Property Stocks, Rose 13, Share Prices, Steep Falls, Straight Days, Turnover, Yiu