Tuesday October 27, 12:20 am Eastern Time
(Note: this article is ''in progress''; there will likely be an update soon.)
HK stocks end morning up, buoyed by futures
HONG KONG, Oct 27 (Reuters) - Hong Kong stocks finished the morning higher on Tuesday, boosted by futures-linked buying and strong property stocks which benefited from renewed interest in the real estate market, brokers said.
The blue chip index ended the morning up 150.87 points, or 1.54 percent, at 9,929.78 after touching a session high of 9,957.82. Turnover was HK$3.17 billion compared with HK$3.09 billion at midsession on Monday.
''We can break through 10,000, no problem,'' said Jerry Pang, institutional salesman at HSBC Securities.
Short-covering ahead of the expiry of October Hang Seng Index futures on Thursday allowed major blue chips to perform particularly well, brokers said.
The Hong Kong market will be closed on Wednesday for the Cheung Yung festival.
Pang said share prices were being supported by views that the macro economic situation was improving as a result of a downtrend in global interest rates.
Positive responses to flat sales recently launched by real estate developers helped property stocks, brokers said.
''Sentiment has improved in general in all the big property counters, even with the bad results of New World,'' Pang said.
(Note: this article is ''in progress''; there will likely be an update soon.)
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