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Politics : Formerly About Applied Materials

AMAT 339.94

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To: StanX Long who wrote (61642)	3/7/2002 3:47:58 AM
From: StanX Long	Read Replies (1) of 70976

Hang Seng ends slightly higher on budget relief By Susan Fenton Wednesday March 6, 5:42 PM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks pushed slightly higher in late trade on Wednesday on widespread relief that the government announced no major tax hikes in its 2002/03 budget address. The Hang Seng Index ended up 0.16 percent or 17.16 points at 11,003, its first close above 11,000 since February 18. Turnover totalled HK$7.4 billion (US$949 million), above its 20-day moving average of HK$6.8 billion. Stocks had consolidated for most of the day after the benchmark index's 5.4 percent rally over the previous two days. Sentiment remains upbeat on hopes that global economic recovery could be round the corner but 11,000 is proving a tough psychological resistance level to break, analysts said.

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