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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked

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To: Glenn who wrote (26364)4/12/1999 1:27:00 AM
From: Tim Luke  Read Replies (1) of 90042
 
HK stocks rally cools, end morning off on Wall St
HONG KONG, April 12 (Reuters) - Hong Kong stocks took a breather on Monday morning to end the session down in line with overseas markets and following the benchmark index's near eight percent gain last week, analysts said.

The Hang Seng Index (^HSI - news) finished 134.80 points or 1.13 percent lower at 11,779.30 after opening sharply lower and sinking to a session low of 11,638.88.

''We are seeing a pretty sharp correction this morning which was expected since Wall Street didn't move up on Friday,'' Alan Hutcheson, director of research at Pacific Challenge, said.

Trading activity was moderate with turnover of HK$3.08 billion, down from Friday morning's HK$4.4 billion.
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