Getcher.....HONG KONG, Nov 17 (Reuters) - Hong Kong stocks remained buoyant in Monday afternoon trade, lifted by softer interbank rates and an almost eight percent surge in Tokyo's Nikkei average, although prices had come off their morning highs.
The Hang Seng Index was up 393 points, or 3.95 percent, at 10,350 after reaching a high of 10,512.41 during the morning.
Turnover was HK$8.06 billion.
"It seems like sentiment has improved over the last few days. The main reason is because interbank rates have dropped,"
said Peter Lai, associate director at OCBC Securities.
A jump of 1,200.80 points, or 7.96 percent, in the 225-share Nikkei average to 16,283.32 also boosted sentiment and brokers said the Hang Seng could see further gains in the near term.
"It could test 11,000 points but it seems like resistance is quite strong there," said Lai.
The November Hang Seng Index futures contract was up 460 points at 10,370. The December contract gained 430 to 10,400.
The red chip Hang Seng China Affiliated Corporations Index was up 22 points, or 1.12 percent, at 2,023 and the H-share index added four points, or 0.49 percent, to 868.
02:05 11-17-97
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