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Politics : Formerly About Applied Materials
AMAT 327.01+2.5%Jan 16 9:30 AM EST

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To: StanX Long who wrote (56638)11/30/2001 3:29:58 AM
From: StanX Long  Read Replies (1) of 70976
 
Hong Kong stocks rise sharply by midday (Reuters) - November 30 1:47 pm
HONG KONG (Reuters) - Hong Kong stocks were up sharply by midday on Friday after a record jump in U.S. consumer goods orders in October lent hopes that the global economy would recover by the second quarter of next year.

sg.news.yahoo.com

All blue chips but three packed in hefty gains as investors threw their weight behind "recovery plays" such as U.S. exporters Li & Fung and Johnson Electric, and Hong Kong's flagship carrier Cathay Pacific.

The benchmark Hang Seng index was up 2.24 percent, or 247.94 points, at 11,338.68 by the midday break. It has gained 27.5 percent since slumping to a 52-week low on September 21.

Turnover was high at HK$4.48 billion (US$575 million), compared with the Thursday midday level of HK$3.96 billion.

Analysts said that the market was trading on optimism even though fundamentals were still weak.
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