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Politics : Formerly About Applied Materials

AMAT 256.41

+1.1%

Dec 19 9:30 AM EST

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To: StanX Long who wrote (63014)	4/19/2002 3:47:47 AM
From: StanX Long	Read Replies (1) of 70976

Hong Kong stocks flat as investors consolidate gains Friday April 19, 1:16 PM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong's key share index was little changed by midday on Friday, consolidating after sharp gains this week as investors took a breather awaiting further signs of a global economic recovery. Trading in blue chips was mixed but Chinese offshore oil producer CNOOC led percentage gains, jumping 4.52 percent to HK$10.40 on hopes that crude prices will be lifted by a pick-up in global demand. The Hang Seng Index of 33 blue chip stocks lost 0.01 percent, or 0.65 points, to 11,216.50 by the midday break after packing in a 4.75 percent gain over the previous four days. It is still down 1.59 percent in the year to date, making it one of the worst-performing benchmarks in the region. Investment house Merrill Lynch said it has raised its weighting of Hong Kong and China to overweight in its recommended Asian portfolio, based on optimistic forecasts for CNOOC, automaker Qingling Motors <1122> and China Mobile <0941>, the mainland's number one cellular phone company. Shares of Qingling were up 2.03 percent at HK$1.51 at midday, while China Mobile shares were down 1.42 percent at HK$24.35.

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