Hong Kong shares surge more than 5 per cent to an eight-month high
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Wed, 27 May 2009 09:23:47 GMT |
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Hong Kong - Hong Kong shares surged 5.26 per cent to their highest level since September 2008 Wednesday due to growing optimism over the global economy. The blue-chip Hang Seng Index gained 893.71 points to close the day at 17,885.27. Turnover was a robust 93 billion Hong Kong dollars (12 billion US dollars.) Analysts attributed the gain to growing investor confidence that the worst of the slump was over, spurred by an overnight rally on Wall Street and the release of promising economic data in the United States. Gains were across the board, with banking giant HSBC gaining 5.77 per cent to close at 68.75 Hong Kong dollars while shares in the Bank of China rose 9.49 per cent to end the day at 3.23 dollars. Property developers Sun Hung Kai and Cheung Kong both gained 5.1 per cent to close at 97.4 and 95.65 Hong Kong dollars respectively.
Copyright DPA
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