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Politics : Formerly About Applied Materials

AMAT 319.11

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3:59 PM EST

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To: StanX Long who wrote (55390)	11/13/2001 2:59:38 AM
From: StanX Long	Read Replies (1) of 70976

Tuesday November 13, 1:24 PM Hong Kong stocks falter as investors fret about air safety sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks closed the Tuesday morning session slightly lower with Cathay Pacific Airways shares falling after news that an American Airlines passenger jet had crashed in New York. Fears that the territory was facing its second recession -- commonly defined as two consecutive quarters of economic contraction -- in just four years also weighed on the market. Hong Kong's chief executive Tung Chee-hwa said at a luncheon on Monday the economy was likely to shrink over the next "few quarters", the government's gloomiest forecast to date. Shares of property giants, like Sino Land and Henderson Land, also weighed on the blue chip Hang Seng Index as investors took profit on these stocks which had risen recently on better sales and lower interest rates. The benchmark Hang Seng index was down 0.43 percent at 10,547.2 points. Turnover was a meagre HK$2.36 billion (US$302 million), down from HK$3.3 billion on Monday.

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