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H.K. Hang Seng index surges more than 4 pc.

HONG KONG, April 16 Kyodo

Hong Kong's Hang Seng stock index surged 4.41% Friday in heavy trading on news about healthy economic performances in the United States and Asia. The index climbed 528.07 points from Thursday to close at 12,490.30, recovering the 12,000-point plateau for the first time since the market collapsed Oct. 20, 1997. "Good news from the U.S. and a large amount of fund flows in Hong Kong led the market close to a fresh record high," said Ben Kwong Man-bun, research director at Dharmala Securities Co. "The turnover significantly topped 10 billion Hong Kong dollars. The market remains very strong," he said. The Hang Seng China Enterprises Index for H-shares -- Chinese companies listed in Hong Kong -- picked up 15.11 points, or 3.88%, to end at 404.77 points. The Hang Seng China-Affiliated Corporations Index, covering locally listed companies backed by Chinese government entities, was also higher, up 25.21 points, or 3.02%, to finish at 859.75 points.
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Publication:Asian Economic News
Geographic Code:9HONG
Date:Apr 19, 1999
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