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Politics : Formerly About Applied Materials

AMAT 256.17

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12:02 PM EST

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To: StanX Long who wrote (63203)	4/25/2002 2:59:34 AM
From: StanX Long	Read Replies (1) of 70976

Hang Seng rises despite Wall Street losses Thursday April 25, 10:39 AM sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong stocks were steady on Thursday morning despite further losses on Wall Street with modest gains in the exchange's two biggest stocks HSBC Holdings and China Mobile. The benchmark Hang Seng Index was up 0.04 percent at 11,401.42 after about 15 minutes' trade, but slipped in and out of negative territory subsequently. The index had gained for seven of the last eight days, putting on 6.4 percent. The HSI was holding despite a slump on Wall Street which saw the technology-laced Nasdaq composite index and the blue chip Dow Jones industrial average fall one percent and 0.6 percent respectively on indications that the economic recovery in the U.S., Hong Kong's second biggest trading partner, may be muted. Shares of global banking giant HSBC Holdings <0005>were up 0.55 percent at HK$91.75. Analysts say the bank has probably made sufficient provisions to fend off any further losses from its Argentine business due to the continuing economic turmoil in that country. Shares of China Mobile <0941>were up 0.2 percent at HK$25.10 as investors say the growth in the company's subscriber base, though slowing, is still likely to outpace many of its global peers. But losses in blue chip export-oriented companies kept the index flat.

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