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Politics : Formerly About Applied Materials

AMAT 327.03

+2.5%

Jan 16 3:59 PM EST

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To: StanX Long who wrote (63092)	4/23/2002 5:02:04 AM
From: StanX Long	Read Replies (1) of 70976

Hang Seng Index rises as investors eye possible recovery Tuesday April 23, 3:38 PM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks were slightly higher in early Tuesday trade, recovering after modest early losses triggered by a steep fall on Wall Street, as investors remained hopeful of a late 2002 recovery in the local economy. A small uptick in crude oil prices helped boost the shares of mainland oil giant CNOOC Ltd. The stock rose 1.95 percent to HK$10.45 making it the top blue chip gainer. But the slightly higher crude prices dented shares of Asia's fourth largest carrier, Cathay Pacific Airways, knocking it 1.53 percent lower to HK$12.85. Jet fuel, derived from crude, forms about 20 percent of its costs. The stock was pulling back slightly after surging over 11.5 percent over the last four trading days, ending with a 3.16 percent jump on Monday, on hopes that the it may be an early beneficiary of a sustained global economic recovery. The benchmark Hang Seng Index was up 0.51 percent at 11,196.75 after about 10 minutes' trade, after slipping lower shortly after the open.

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