Hang Seng ends bad year on hopeful note
(12-31 10:27)
Hong Kong share prices closed the year down 48.3 percent, marking the worst percentage fall in 34 years as the global economic crisis hit hard.
But the market ended its shortened trading session on the last day of the year 1.1 percent higher, following overnight gains on Wall Street and light window dressing by fund managers, dealers said.
The Hang Seng Index rose 151.98 points to 14,387.48. Turnover was light at HK$19.47 billion.
ICEA said 2009 would be a year the market would test the bottom, but expected the economy to recover as financial institutions clean up their balance sheets and take advantage of the government's monetary and fiscal policies.
The market reopens on Friday.
AGENCE FRANCE-PRESSE |
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