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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (55694)	11/16/2001 1:53:10 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday November 16, 1:47 PM Hong Kong stocks higher but oil stocks suffer sg.news.yahoo.com HONG KONG (Reuters) - Hong Kong blue chips rose more than one percent by the midday break on Friday, shrugging off a early bout of profit taking in key blue chips as investors hoped strong U.S. retail sales would lead to a faster than expected economic recovery. But China's oil producers bucked the market, falling sharply on the back of lower crude prices. The benchmark Hang Seng index was up 1.15 percent at 11,368.9 points by the break. Turnover stood at HK$5.76 billion (US$738.7 million), slightly lower than Thursday's HK$5.86 billion. Even though some blue chips are overbought on a technical basis, analysts said buying momentum has not let up as record growth in U.S. retail sales in October raised hopes the economy would start to recover in the second quarter of next year.